What the Aussie Dollar's Stall Means for Dollar Bulls

The Australian dollar rally has run seven of the last eight weeks and is now stalling where three Fibonacci markers converge. Michael Boutros, StoneX Media Senior Market Analyst, walks the weekly, daily, and 4-hour charts to show where the advance is meeting resistance and what would confirm the next leg. The uptrend the Australian dollar lost in June has been acting as overhead resistance for three weeks running, and that broken slope now lands on the same region as a key retracement level. Momentum readings sit at their strongest since February while price has yet to close above the level that would confirm resumption. Behind the move, traders have pushed out their expectations for the Federal Reserve's next step, and the U.S. dollar has responded in kind. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_michael_boutros&utm_content=share 00:00 - Aussie Dollar's Eight Week Run 00:51 - Daily Chart Rejection Builds 01:35 - Where Near Term Support Sits 02:22 - Bullish Invalidation Zone 03:09 - The Next Upside Hurdle 04:19 - Fed Repricing Lifts the Aussie Like and subscribe for more financial market insights. #AUDUSD #StoneX #MichaelBoutros #Forex