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AUDNZD bullish in third week of rise
AUDNZD is ready to complete its third week of gains, having strongly rebounded from an eight-month low of 1.0261 early this month and breached its simple moving averages (SMA). Encouragingly, the pair also managed to close on top of the Ichimoku cloud on Wednesday, while in momentum indicators, the rising MACD and RSI are embracing a positive bias for the short-term. The latter, however, is nearing its 70 overbought level, signalling that room for further improvement may be limited. The 78.6% Fibonacci of 1.0629 of the 1.0729-1.0261 bearish wave could act as immediate resistance to upside movements ahead of the ... (full story)