AUD/USD is on the cusp of breaking 1.04 and yesterday’s high.
On the week, it’s among the best performers, having gained nearly 200 pips since Monday’s opening gap lower. A close above 1.0375 is especially bullish on the weekly chart.
Looking at the daily chart, there is a cluster of major resistance just above 1.04. It includes the 100-day moving average (1.0404) and the 61.8% retracement of the fall since mid-January (1.0413). It may be difficult to break these levels today but a break is a buy signal.
