Double bottom: The AUD/USD formed a double bottom in the 1H chart. There was slight oversold condition shown by a bullish divergence with the RSI. However these conditions have been resolved, and price has almost reached the double bottom breakout target, with retracement to 38.2%-50% of the latest swing from 1.0273-1.0148. The RSI has also gotten back to neutral zone and as long as it holds under 60 in the 1H chart, the bearish momentum in the short-term remains. Bullish divergence: There is also a bullish divergence seen in the 4H chart with the RSI. A correction could be projected toward the parallel speed line to ... (full story)