Technical analysis: AUD/USD sellers gather momentum, positive outlook remains
The Relative Strength Index (RSI) remains above 50 but points downwards, suggesting that bullish momentum might be losing steam. Meanwhile, the Moving Average Convergence Divergence (MACD) shows steady red bars indicating stable selling pressure.
However, the short-term outlook remains positive as the pair sustains its position above the 20-day Simple Moving Average (SMA) at 0.6640. If lost, the 100 and 200-day SMAs offer themselves as barriers around the 0.6560 area.
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