VOT Research Desk
After breaking through the 61.8% Fibonacci retracement, the AUD/USD currency pair is currently trading close below its 50-day Simple Moving Average (SMA).
The sliding 100-day SMA, which is currently trading alongside the 38.2% Fib, would be threatened by a break above that SMA before being challenged by the fictitious 50% Fib level. Both bullish momentum indicators—the MACD moving above its signal line and the daily RSI crossing above its midpoint—moved above their respective signal lines.
