-
Will the nonstop rally in AUDUSD falter?
video AUDUSD has been enjoying an almost three-week nonstop rally, gaining around 5.0% since the bounce on the 0.6500 level at the end of May. On Wednesday, the pair reached its highest level since February and closed slightly above the 0.6780 ceiling, which has been capping bullish actions over spring. The impressive ascend could motivate some profit-taking as the RSI and the stochastic oscillator are hovering near overbought territory. Yet, the indicators have yet to show a clear downside reversal, suggesting some extra recovery before the next pivot takes place. A clear step above yesterday’s high of 0.6835 ... (full story)