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AUDUSD bullish above 0.7500

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUDUSD retains its bullish outlook especially after the 50-day moving average crossed above the 200-day moving average last week, which is a bullish signal. As long as the market remains above 0.7500, there is scope for prices to extend higher towards 0.7700. MACD is above zero and rising, supporting a bullish bias. In the near term, the market is likely to consolidate after the recent rally stopped at 0.7679 on Friday. RSI reached overbought levels, which indicates a pullback was due. Support

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