Technical Analysis – AUDUSD moves back towards 0.6900; positive rally faded
Posted on June 12, 2019 at 6:42 am GMTAUDUSD continues to fall below the Ichimoku cloud, remaining in a downtrend over the last six months, stretching its movement towards the 0.6900 psychological level. According to the RSI, negative momentum could push for further losses in the short-term as the indicator loses steam below its neutral threshold of 50. The stochastic oscillator is also declining, approaching the oversold territory. The price is hovering within the simple moving averages (SMAs) and between the red Tenkan-sen and the blue Kijun-sen lines. The move could be extended on the [..]