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AUDUSD - Daily Bearih Reversal

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by , 12-06-2018 at 11:23 AM (37 Views)
          
   
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The AUDUSD price is now close to support from the lower bound of a rising channel that has been in place since late October. It is also sitting on the 20-day moving average and is not far above the 50-day and 100-day moving averages, suggesting that any further near-term downside is limited.

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This all suggests that a move closer to the top of the channel is a possibility in the next few days even though the 14-day relative strength index has so far failed to confirm the higher highs for the price over the past six weeks.

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