4 May 2016
AUD/USD: technically 0.7450 is the one to watch - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained the technical picture surrounding AUD/USD
Key Quotes:
"In the 4 hours chart, the price remained capped by a flat 20 SMA, now around 0.7660, while the technical indicators head sharply lower within bearish territory, with room to extend their slides, and supporting a downward continuation, particularly if the ongoing decline extends below 0.7450, the 38.2% retracement of this year's rally, a major support."
Key Quotes:
"In the 4 hours chart, the price remained capped by a flat 20 SMA, now around 0.7660, while the technical indicators head sharply lower within bearish territory, with room to extend their slides, and supporting a downward continuation, particularly if the ongoing decline extends below 0.7450, the 38.2% retracement of this year's rally, a major support."