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AUDUSD capped by 40-day SMA after reversal off multi-year low
AUDUSD buyers are attempting to retake control after the restricting 40-day simple moving average (SMA), halted the rally, which commenced off the fresh multi-year low of October 2. Momentum seems to have stalled, as also reflected by the short-term oscillators, which contradicts the bigger negative picture. The MACD, which is in negative areas and marginally below its red trigger line, looks to move above it, while the RSI appears to reclaim its 50-level, implying a more positive outlook. On the other hand, backing the bearish view, is the downtrend line and all the SMAs. Moreover, the 20-day SMA has completed a ... (full story)