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AUDUSD eases after bullish spike to 4-month high
AUDUSD posted a strong bullish day on Wednesday, showing some more upside pressure today, towards a fresh four-month high, exiting from the consolidation area of 0.6390-0.6635. A rally higher until the next resistance level of 0.6730 could endorse a bullish retracement in the market. Technically, the 20- and the 50-day simple moving averages (SMAs) posted a bullish crossover suggesting more gains, while the oscillators are mixed. The MACD is holding above its trigger and zero lines, while the RSI is pointing south above the neutral threshold of 50, indicating a potential downside correction. In the case of steeper ... (full story)