AUDUSD pair gradually moving higher

The AUD/USD pair continues to be maintaining its movements in the previously described channel up. The currency pair has breached the monthly pivot point during the early hours of Monday’s trading session.
The exchange rate is moving gradually upwards to test the upper boundary of a senior channel where the weekly R1 is located. The 55– and 100– hour SMAs are guiding the currency pair north.
As for near future, bulls are likely to continue their dominance over this currency exchange rate until it meets the aforementioned weekly R1.