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AUDUSD stuck around 0.7500, but bias still positive
AUDUSD keeps fighting for a decisive close above the 0.7500 level for the second consecutive week, despite setting a foothold near the 0.7460 number. The recent fruitless bullish attempts suggest buying forces are fizzling out, with the MACD and the RSI somewhat endorsing that view as the former is rising at a relatively softer pace and the latter seems to be creating a lower high below its 70 overbought mark. Yet, as long as the indicators remain within the bullish territory, there is an opportunity for further improvement in the market. A decisive close above the 0.7531, and more importantly, beyond the 200-day ... (full story)