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Hello everyone, today XM Forex will bring you "[XM Forex Market Analysis]: The Australian dollar is in a range fluctuating, is it an upward breakthrough next?" Hope it will be helpful to you! The original content is as follows:
XM Foreign Exchange APP News--In the European session on Friday (May 2), the Australian dollar price against the US dollar showed a volatile upward trend, the mid-to-high points of price fluctuations continued to rise, and the bulls were gradually accumulating. The intraday report was 0.6435/36, an increase of 0.83%. The Australian dollar has been in a narrow range for nearly two weeks, consolidating its rapid rebound starting from a five-year low below the 200-day Simple Moving Average (SMA) and a volatility range between 0.6340 and 0.6448. The 50% Fibonacci retracement of the downtrend from September 2023 to April 2024 was 0.6427, and the trend line that changed from support to resistance since October 2023 also brought challenges to the bulls. However, although the relative strength indicators (RSI) and the index smooth similarity and difference moving averages (MACD) are on the sideways, they still fluctuate in the long region, so in the crucial United States, the above content is about "[XM Forex Market Analysis]: The Australian dollar is in a range fluctuation, is it a breakout next?", which is carefully compiled and edited by the editor of XM Forex. I hope it will be helpful to your trading! Thanks for the support!
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