25 May 2015
AUD/USD: technicals supporting the negative tone – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, AUD/USD technicals are supporting the negative tone for the pair in this thin volume trade, expecting further weakness below 0.7802.
Key Quotes
“The AUD/USD trades around its daily opening, having set a daily low of 0.7802 earlier in the day. The downside is favored on a break below the critical figure, as the 1 hour chart shows that the indicators are turning south around their midlines, albeit limited due to the lack of volume.”
“In the 4 hours chart, the price continues to extend below its 200 EMA, whilst the 20 SMA has crossed below it and maintains a strong bearish slope, supporting the general negative tone.”
“Support levels: 0.7800 0.7775 0.7750”
“Resistance levels: 0.7845 0.7890 0.7930”
Key Quotes
“The AUD/USD trades around its daily opening, having set a daily low of 0.7802 earlier in the day. The downside is favored on a break below the critical figure, as the 1 hour chart shows that the indicators are turning south around their midlines, albeit limited due to the lack of volume.”
“In the 4 hours chart, the price continues to extend below its 200 EMA, whilst the 20 SMA has crossed below it and maintains a strong bearish slope, supporting the general negative tone.”
“Support levels: 0.7800 0.7775 0.7750”
“Resistance levels: 0.7845 0.7890 0.7930”