Aussie weekly chart shows the currency is just short of kissing the long-term falling trend line resistance. Last week’s candle failed to pierce through, however, in the wake of broad based dollar selling and rising gold and oil prices, the currency may take out the trend line resistance and confirm LT trend reversal.
Weekly RSI and money flow index also point to continuation of the rally from Feb lows.
Take a look at the weekly chart of the Dollar index, which shows the buck heading towards head and shoulder neckline seen around 91.46.