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AUD/NZD momentum shifts to upside

The daily AUD/NZD MACD has moved above its median line, as a result of increased momentum in recent days.


The condition could be taken by trend-following traders as a reason to jump out from short positions, thus causing further upside pressure on this pair. Outlined on the daily perspective, the oscillator has not printed above zero at least for three weeks. This is a reason to pay attention to an otherwise less meaningful technical event.

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