Technical Analysis – AUDUSD seems ready to test uptrend line
Posted on August 10, 2020 at 1:15 pm GMTAUDUSD completed a double top formation around the 0.7243 resistance level and dropped beneath the 0.7174 resistance and the 40-period simple moving average (SMA). However, the price found strong support at the 23.6% Fibonacci retracement level of the up leg from 0.6830 to 0.7243 at 0.7146 and the Ichimoku cloud. Technically, the RSI indicator is flattening below the 50 level and the MACD oscillator dropped beneath the trigger line and the zero level. The 20- and 40-period SMAs are sloping [..]