AUDUSD Price News: Aussie Dollar Ends Week Near Monthly Highs

I’ve watched the DXY climb back toward 98.79 as the peace premium from the Islamabad ceasefire talks evaporates faster than a puddle in the Outback. Physical reality in the Strait of Hormuz is paralyzed. Oil is back in triple digits. Brent at around $105. That’s a massive headwind for global growth, yet the AUD/USD, one of our favorite proxies for global sentiment, is holding its ground despite a broad safe-haven bid for the greenback.

Renko Bricks Hold the Line at 0.7133

Technical structure hasn’t broken. Not yet. Looking at the highly granular 0.001-brick Renko, we’re seeing some chop after the pair hit a recent four-year peak of 0.7222. Price is currently compressing just above the green trend support band. I noticed the Supertrend level at 0.7133 is acting as a rigid line of defense for the bulls. Momentum is soft. The RSI is sitting below 50. But it’s reset, not washed out.