Technical Analysis – AUDUSD edges sideways after nosedive; downside risks intact
Posted on September 28, 2020 at 3:22 pm GMTAUDUSD appears to be consolidating after reaching the 0.7000 mark, following a violent downwards spiral, which extended underneath the Ichimoku cloud and the 200-period simple moving average (SMA). The flattened Ichimoku lines reflect the stall in the pair, while the falling 50- and 100-period SMAs sponsor further negative price action. The short-term oscillators mirror the recent increase in price sentiment. The MACD, some distance below zero, is improving above its red signal line, while the RSI is dipping above the [..]