Technical Analysis – AUDUSD extends recovery, supported by Bollinger bands
Posted on November 5, 2019 at 8:18 am GMTAUDUSD has been printing higher highs and higher lows since the beginning of October, with any pullbacks being capped by the lower Bollinger band on the 4-hour chart. The near-term outlook therefore seems to have shifted to positive, though a break above 0.6930 may be needed to cement that. Short-term momentum oscillators concur with the bullish bias, as the RSI climbed above 50 and is pointing higher, while the MACD seems ready to challenge its red trigger line at any [..]