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AUDUSD outlook turns neutral again
Despite the exciting bull run to a four-month high of 0.6712 last week, AUDUSD could not sustain its gains above the 0.6640 threshold, diving back into its previous range area. Having closed below the support trendline from April’s lows and eased slightly beneath the ascending line from October 2023 and the 20-day exponential moving average (EMA), the pair might be exposed to more selling. The technical indicators align with this narrative because the falling stochastic oscillator has not yet reached its lowest point in the oversold region, and the RSI is about to dip below its neutral mark of 50. If the 50- and ... (full story)