Technical Analysis – AUDUSD bulls meet resistance trendline again; short-term bias positive
Posted on March 3, 2020 at 4:21 pm GMTAUDUSD is testing the descending trendline stretched from the 0.7031 high again following Friday’s bounce on the decade low of 0.6433, and expectations are for more upside to come, with the rising RSI and MACD backing any potential move higher. Should the market close above the trendline, the bulls would aim for the 0.6670 barrier, which is slightly above the 38.2% Fibonacci of the 0.7031-0.6433 downleg. Clearing that obstacle, the way would open towards the 0.6710-0.6730 zone encapsulated by the [..]