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AUDUSD poised for an upturn

From xm.com

{video}AUDUSD seems to have secured a strong foothold near 0.6735 and around its 20- and 200-day simple moving averages (SMAs), increasing optimism that the next bull run to 0.6900 could happen soon. From a technical perspective, the pair could recoup some extra ground in the short term as the RSI has avoided a drop below its 50 neutral mark, turning softly higher in the aftermath. Likewise, the stochastic oscillator has changed direction to the upside. Still, traders could maintain some caution as the tough descending line from April 2022 at 0.6860 could postpone the battle with the 0.6900 mark. If buying appetite ... (full story)

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  • Category: Technical Analysis