-
AUDUSD plummets below uptrend line
AUDUSD has been in a bearish corrective mode during the week, penetrating the short-term uptrend line to the downside with strong momentum. Entering the 0.6570 area has been a struggle over the past three days, and there might be another tough obstacle within the 38.2% Fibonacci retracement level of the up leg from 0.6338 to 0.6690 at 0.6555, but the bears may not give the battle yet according to the technical indicators. Specifically, the RSI is plunging below the 50 neutral mark and the MACD oscillator is diving beneath the zero level. In the event the pair re-activates its uptrend above the 23.6% Fibonacci of ... (full story)