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AUDUSD stuck on the bearish side; trend signals unfavorable
video AUDUSD is pointing to the downside again after its bullish attempts to close above the red Tenkan-sen line at 0.7531 and run beyond the 0.7600 resistance vanished on Tuesday. The RSI has reversed course as well, unable to create a higher high in the bearish territory, while the MACD has resumed its negative momentum below its red signal line, both painting a blurry picture for short-term trading. Of note, the 20- and 200-day simple moving averages (SMAs) have completed a bearish cross for the first time since January 2020, dashing any hopes of a trend improvement. The narrowing distance between the 50- and ... (full story)