If we observe the one hour chart, we see a V shape, which could indicate a new downside correction. The pair is now trading at 0.8874 dollars per Australian dollar. The Bands of Bollinger show a 180 pips volatility in the hour, while the RSI is clearly overbought.The MACD indicator shows that the pair could offer us a shift in the trend in the next hour.

After hitting a new yearly high at 0.8882, the pair could seek 0.8900 and then correct to the downside to 0.8800.

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