Back
15 Apr 2015
AUD/USD: Saved by the greenbacks losses - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that AUD/USD approached its weekly low of 0.7579 earlier in the European session.
Key Quotes:
"...Dragged lower by falling gold prices, albeit finally surged as the greenback got sold off."
"The pair is now retracing from a daily high set at 0.7648, maintaining a mild short term positive tone according to the 1 hour chart, where the technical indicators hover in positive territory, and the 20 SMA heads higher well below the current price, around the 0.7600 figure."
"In the 4 hours chart however, the price was unable to extend above a bearish 20 SMA, while the technical indicators are retracing from their mid-lines."
"The price is now struggling around the 23.6% retracement of its latest bearish run, which means that additional declines below the 0.7600 figure should put the pair back in the bearish track."
"The immediate resistance stands at 0.7660, with a recovery above it exposing the pair to a retest of the 0.7740 region, 50% retracement of the same rally."
Key Quotes:
"...Dragged lower by falling gold prices, albeit finally surged as the greenback got sold off."
"The pair is now retracing from a daily high set at 0.7648, maintaining a mild short term positive tone according to the 1 hour chart, where the technical indicators hover in positive territory, and the 20 SMA heads higher well below the current price, around the 0.7600 figure."
"In the 4 hours chart however, the price was unable to extend above a bearish 20 SMA, while the technical indicators are retracing from their mid-lines."
"The price is now struggling around the 23.6% retracement of its latest bearish run, which means that additional declines below the 0.7600 figure should put the pair back in the bearish track."
"The immediate resistance stands at 0.7660, with a recovery above it exposing the pair to a retest of the 0.7740 region, 50% retracement of the same rally."