The post Aussie eyes YTD high after channel breakout appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) extends its advance against the US Dollar (USD) on Friday, with AUD/USD climbing to its highest level since September 18 as traders are almost certain the Reserve Bank of Australia (RBA) will leave interest rates unchanged on December 9. At the time of writing, AUD/USD is trading around 0.6637, on track for a second straight weekly gain. The fundamental backdrop remains supportive for the Aussie, with markets also beginning to factor in the possibility that the RBA could revisit tightening next year if domestic conditions stay firm. This stands in sharp contrast to the Federal Reserve’s (Fed) dovish outlook, which continues to weigh on the US Dollar and further supports AUD/USD. From a technical perspective, the daily chart shows a strong breakout above a descending parallel channel earlier this week, signalling a clear shift toward a bullish structure. The move higher has also pushed AUD/USD above the 21-day, 50-day and 100-day Simple Moving Averages (SMAs), which are now clustered near the upper boundary of the former channel, creating a solid support confluence in the 0.6550-0.6520 region in the event of a pullback. As long as prices hold above this zone, the broader bias is expected to remain in favor of the bulls, while a break below it would risk a deeper correction and weaken the near-term outlook. On the upside, 0.6650 is acting as the immediate resistance. A decisive close above this area would open the door toward this year’s peak at 0.6707, marked on September 17, which also stands as the year-to-date high and the highest level since October 2024. Beyond that, the psychological 0.6800 mark becomes the next bullish target if momentum continues to build. Momentum indicators reinforce the improving tone. The Relative Strength Index (RSI) is holding near 68, approaching overbought territory but… The post Aussie eyes YTD high after channel breakout appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) extends its advance against the US Dollar (USD) on Friday, with AUD/USD climbing to its highest level since September 18 as traders are almost certain the Reserve Bank of Australia (RBA) will leave interest rates unchanged on December 9. At the time of writing, AUD/USD is trading around 0.6637, on track for a second straight weekly gain. The fundamental backdrop remains supportive for the Aussie, with markets also beginning to factor in the possibility that the RBA could revisit tightening next year if domestic conditions stay firm. This stands in sharp contrast to the Federal Reserve’s (Fed) dovish outlook, which continues to weigh on the US Dollar and further supports AUD/USD. From a technical perspective, the daily chart shows a strong breakout above a descending parallel channel earlier this week, signalling a clear shift toward a bullish structure. The move higher has also pushed AUD/USD above the 21-day, 50-day and 100-day Simple Moving Averages (SMAs), which are now clustered near the upper boundary of the former channel, creating a solid support confluence in the 0.6550-0.6520 region in the event of a pullback. As long as prices hold above this zone, the broader bias is expected to remain in favor of the bulls, while a break below it would risk a deeper correction and weaken the near-term outlook. On the upside, 0.6650 is acting as the immediate resistance. A decisive close above this area would open the door toward this year’s peak at 0.6707, marked on September 17, which also stands as the year-to-date high and the highest level since October 2024. Beyond that, the psychological 0.6800 mark becomes the next bullish target if momentum continues to build. Momentum indicators reinforce the improving tone. The Relative Strength Index (RSI) is holding near 68, approaching overbought territory but…