AUDUSD edged sharply higher in the near-term timeframe following the rebound on the 0.7500 significant support level that started on December 12, 2017. The price hit the ascending trend line on the medium-term chart, which has been holding since January 2016 before the upside movement. However, given that the latest run appears overstretched and having a look at the momentum indicators in the daily chart, a correction setback may take place before buyers decide to push further. The Relative Strength Index (RSI) is pointing south in the overbought zone, which is a signal of a downward retracement, whilst the ... (full story)