\n\tA breakout above resistance should pave the way for a retest and possible breakout of the April high of 1.1011. The H&S range suggest a 400 pip move above the 1.0790 level is possible, providing an overall target of 1.12. The alternative set-up is for price to remain contained below resistance and form a triangle pattern before breaking out. Whether the breakout happens now or after a triangle develops the positioning of traders combined with the prevailing trend favors higher prices in the near term.<\/p>\n
\t![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/dailyfx14-7.jpg\")
<\/p>\n
\tThe views expressed are not FNArena's<\/span> (see our disclaimer).<\/p>\n \n\tFor real time news and analysis, please visit http:\/\/www.dailyfx.com<\/span>\/real_time_news<\/p>\n \n\tDailyFX<\/span> provides forex<\/span> news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM<\/span>.<\/p>\n \n\twww.dailyfx.com<\/span><\/p>\n \n\tDisclaimer<\/strong><\/em><\/p>\n \n\tForex<\/span> Capital Markets is headquartered at Financial Square 32 Old Slip, 10th Floor, New York, NY 10005 USA.<\/u><\/em><\/p>\n \n\tTrading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before you decide to trade the foreign exchange products offered by Forex<\/span> Capital Markets, LLC, Forex<\/span> Capital Markets Limited, inclusive of all EU branches, FXCM<\/span> Asia Limited, or FXCM<\/span> Australia Limited, any affiliates of aforementioned firms, or other firms under the FXCM<\/span> group of companies [collectively recipient.”<\/span><\/em><\/p>\n \n\tTechnical limitations<\/strong><\/p>\n \n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/em><\/span>, we apologise<\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Guest commentary at FXCM argues in favour of higher prices for the Australian dollar against the greenback.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[29],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58451"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=58451"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58451\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}