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AUDUSD waits for direction after bullish break
AUDUSD regained positive momentum and climbed above its exponential moving averages (EMAs) after breaking out of its 2024 bearich channel. But the 0.6620 region, which was a tough barrier in January, dented the upside forces following the flash spike to 0.6666. The technical indicators are sending mixed signals, though the nearby support area of 0.6600, which has been limiting downside movements, is preserving a ray of hope that the ongoing tight consolidation phase might develop to the upside. A close above 0.6620 could help the price to reach the 50% Fibonacci mark of 0.6655 and then stretch towards the 61.8% ... (full story)