AUDUSD is retreating below the 50-period simple moving average (SMA) at 0.7290, after deflecting off the upper Bollinger band, currently encompassed in the resistance ceiling of 0.7324-0.7344. The advancing 100- and 200-period SMAs are promoting strength in the pair, while the 50-period SMA is transmitting a more neutral tone. The short-term oscillators mirror the recent weakening in the price. Strengthening negative momentum is displayed in the dipping of the RSI underneath its 50 mark and the declining stochastic %K line [..]
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