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9 Dec 2014
AUD/USD sees no relief – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, the AUD/USD pair sees no relief as as it extended its decline to 0.8223 levels in the Asian session, due to soft business confidence data.
Key Quotes
“The AUD/USD pair sees no relief, having extended its decline down to 0.8223 during Asian hours, after local Business conditions and confidence shrunk below expected.”
“Short term, the technical picture is slightly bullish as per price trading above its 20 SMA and indicators aiming slightly higher in neutral territory, albeit as long as below 0.8330 resistance, chances of a steadier advance remain limited.”
“In the 4 hours chart indicators corrected from oversold territory but remain below their midlines, while 20 SMA presents a strong bearish slope around 0.8330 mentioned resistance.”
Key Quotes
“The AUD/USD pair sees no relief, having extended its decline down to 0.8223 during Asian hours, after local Business conditions and confidence shrunk below expected.”
“Short term, the technical picture is slightly bullish as per price trading above its 20 SMA and indicators aiming slightly higher in neutral territory, albeit as long as below 0.8330 resistance, chances of a steadier advance remain limited.”
“In the 4 hours chart indicators corrected from oversold territory but remain below their midlines, while 20 SMA presents a strong bearish slope around 0.8330 mentioned resistance.”