The AUD/USD currency pair, which expresses the value of the Australian dollar in terms of the U.S. dollar, is currently trading above its 2020 opening price of 0.7016, and therefore also firmly above the midpoint of its longer-term trading range (from May 2015) of roughly 0.6840. The weekly candlestick chart below illustrates this current position.
(Chart created by the author using TradingView. The same applies to all subsequent candlestick charts presented hereafter.)
More recent price action, which has been generally supportive of the Australian dollar, follows my previous article (published August 13)