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Mar 30 - 01:55 PM

AUD/USD - Pause In Effect But Could Mean Rally Will Resume

By Christopher Romano  —  Mar 30 - 01:15 PM
  • AUD/USD has been trading within the 0.7450/0.7550 zone since March 23

  • Big gains off the March 15 daily low are now being consolidated

  • This phase is healthy for the up trend & should resolve with new highs

  • Consolidation give daily RSI a chance to unwind its overbought condition

  • Monthly RSI is rising & isn't overbought, implies l-t upward momentum

  • Hold above the 50% Fib of 0.8007-0.6968 reinforces bullish sentiment

  • 0.7600/10 area is targeted once the broader rally resumes

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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