AUD/USD had a strong session on Thursday as a couple of Federal Reserve board members spoke of low rates going forward. The gold market took off, and this of course had the Aussie gaining. The pair looks to break out above the top of this downtrend channel, and the 200 day EMA is now below the current price.
The EUR/USD did a very similar thing: shoot straight up. However, unlike Australia, Europe has a lot of problems economically at the moment. The problems aren't anyway near being fixed, so this rally will probably be faded again.
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