Shit Happens
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AUDUSD’s pullback dismissed by 50-day SMA; upside intact
AUDUSD is finding some footing on the 50-day simple moving average (SMA) around 0.7605, after a near one-month retreat from the recently reached multi-year top of 0.7820. The Ichimoku lines are reflecting a pause in the climb, while the rising SMAs are preserving the bullish sentiment. The ascent seems to be unharmed as the short-term oscillators are conveying a pickup in positive momentum. The MACD is holding above the zero mark, despite having dwindled below its red trigger line, while the RSI is improving just below the 50 threshold. Furthermore, the stochastic oscillator is demonstrating positive divergence, ... (full story)