AUD/USD Stuck in Three-Week Range Ahead of Critical Breakout
AUD/USD has been locked in a three-week range below resistance, and investors are waiting for a breakout to guide their trades into August.
The pair has traded within this range after rallying in four of the past five weeks, with buyers testing the upper boundary but sellers unable to force a rejection.
The focus is now on whether the weekly and monthly closes can provide confirmation to resolve this consolidation, particularly given the upcoming release of key ISM data next week and the July Non-Farm Payrolls report on tap Friday.