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AUDUSD tries to test 2-year high; remains in trading range
video AUDUSD is surpassing the 0.7340 barrier in the consolidation area of 0.7000-0.7413. The upside tendency this month started after the bounce off the 0.7000 psychological mark and more increases could come if there is a break of the upper bound of the channel. The momentum indicators seem to in a horizontal mode. The RSI is flattening near the overbought territory, while the MACD is trying to extend its bullish structure above its trigger line. However, the 20- and 40-day simple moving averages (SMAs) are pointing upwards. A successful advance above the trading range and the two-year high of 0.7413 could take ... (full story)