AUDUSD is unable to decisively overrun above the 38.2% Fibonacci retracement level of the bearish wave from 0.7030 to the 17½-year low of 0.5506 to post some significant gains, as positive momentum evaporates. The pair today has declined to the nearby red Tenkan-sen line and the 23.6% Fibonacci of 0.5865, with backing from the technical indicators and the easing simple moving average lines (SMAs). Most of the short-term oscillators suggest an increase in negative momentum for now. The slightly falling RSI has just moved near its 30 level, while the stochastic oscillator is returning lower before hitting the ... (full story)