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AUD/USD Is This Really Overbought?

MultiBank Exchange Group
By MultiBank Exchange Group

AUD/USD increased today, but failed to reach the 0.8027 yesterday’s high and the median line (ml) of the minor ascending pitchfork, signaling an exhaustion. Price rallied in the yesterday’s trading session and retested the median line (ml), but unfortunately has failed to close near it. The pair is trading in the red right now and seems determined to reach and retest the lower median line (lml) again.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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