Australian Buying Spree and Weaker Yen #aud #forex

21 May 2018

Today we saw a break of the minor trendlines, looking to test resistance at 84.50. With a candle this strong it will most likely break that support to continue higher. Australian dollar has risen today against all majors. This may have been due to the US-China Trade Wars and is encouraging South East Asia demand for those dollars (risk on currency AUD), instead of the Japanese Yen (Safe Haven)