As we opened the trading session on Monday, we obviously gapped lower in favor the US dollar during Asian trading, perhaps in reaction to the tax bill making significant gains through the US Senate.
AUDUSD is currently trading inside an ascending channel on its daily time frame and is testing support. Price is also moving inside a short-term descending channel and might need to break past the resistance before establishing bullish momentum.
The Australian dollar has been very volatile during the Friday session, initially dipping to a fresh, new low, and then exploding to the upside.
The EURUSD pair initially dipped lower during the day on Friday, but then shot higher impulsively during the American session.
The British pound initially tried to rally on Tuesday but found a ton of resistance near the 1.3125 level.
AUDUSD had been trading inside an ascending triangle on its long-term time frame and has just broken past the resistance at the .7750 minor psychological mark.
The EUR/USD pair went sideways initially on Friday, and then had a very volatile session as the jobs number in America came out much longer than anticipated.
The Australian dollar initially slid a bit at the open on Friday, but then bounced significantly towards the 0.76 handle.
The EURUSD pair initially dropped a bit on Thursday, but then shot towards the 1.14 level above.
The Australian dollar went sideways and a very choppy session on Thursday, finding resistance just above the 0.76 handle.
