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AUDUSD steps on the 2020 support trendline
AUDUSD stayed above the 2020 support trendline after testing it for the third time since the pandemic fallout. This happened after a bearish five-week streak that caused the price to drop to a nine-month low of 0.6363. The pair is set to post its first weekly gain in five weeks as the price picks up positive momentum towards its 20-day simple moving average (SMA) at 0.6511. The upside reversal in the RSI and the Stochastic oscillator are promoting the upturn in the price, though the former is clearly below its 50 neutral mark, while the MACD is attached to its red signal line despite gradually improving, both ... (full story)