AUDUSD pauses decline but bearish pattern remains intact

AUDUSD pauses decline but bearish pattern remains intact

From xm.com

video AUDUSD had been in a prolonged uptrend since mid-October, generating a clear structure of higher highs and higher lows. Nevertheless, the pair has been experiencing a significant downside correction in the short term, with the price trading within a downward sloping channel after peaking at 0.7157. The momentum indicators currently suggest that bearish forces are waning but remain in control. Specifically, the MACD histogram has jumped above its red signal line but remains in the negative territory, while the RSI is pointing upwards beneath its 50-neutral mark. Should selling pressures intensify further, the ... (full story)

AUD-USD Weekly Charts Update. 03-16-23

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