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AUDUSD eases from 8-month highs; bias still bullish

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUDUSD has retreated from an 8-month high of 0.7484 it set on March 7 but has held on to the 0.74 handle. Prices remain firmly above the 200-day moving average and the Ichimoku cloud but the tenkan-sen and kijun-sen lines are moving sideways, suggesting the bullish bias has lost some steam from the losses of the past two days. This is also evident from the RSI which has come down from over bought levels and is currently flat. But the MACD is still trending up, indicating that there is scope

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