like the oversold call.
AUDUSD dips to 25-month low; looks oversold
AUDUSD is losing its positive momentum that started the day, while it posted a fresh 25-month low of 0.7156 on Tuesday. The bearish trend could stay in place given that prices continue to fluctuate below the 20- and 40-simple moving averages (SMAs) in the daily timeframe. However, some of the technical indicators are indicating that the pair is oversold and a possible upside retracement may be due. The RSI indicator is flattening in the negative territory with no clear momentum, while the %K line of the stochastic oscillator is ready for a bullish crossover with the %D line in the oversold zone, giving a strong ... (full story)