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AUD/USD Price Analysis: Extends pullback from 200-EMA towards 0.6560 support confluence
AUD/USD licks its wounds around the intraday low of 0.6595 while printing the first daily loss in three amid Monday’s mid-Asian session. In doing so, the Aussie pair keeps the previous day’s retreat from the 200-bar Exponential Moving Average (EMA). Adding strength to the downside bias is the RSI (14) line’s U-turn from the overbought territory, as well as the receding bullish bias of the MACD indicator. However, a convergence of the 50-EMA and multiple levels marked since May 24, around 0.6565-60, appears a tough nut to crack for the AUD/USD bears. In a case where the Aussie pair drops below 0.6560, a quick ... (full story)