AUDUSD could not find enough buyers to expand Tuesday’s bull run above the three-month high of 0.6590, closing with some losses on Wednesday. Technically, the short-term risk is leaning to the upside. The price is developing well above the Ichimoku cloud, while the MACD oscillator is strengthening its positive momentum above its trigger and zero lines. Also, the RSI is pointing north and is moving towards the 70 level. Given the current positive momentum, the question now is whether the pair will move above the 200-day simple moving average (SMA). A clear step above it and beyond the three-month high of 0.6590 would ... (full story)