14 Jan 2014
AUD/USD pressured by Tokyo sellers, hourly kijun broken
FXstreet.com (Bali) - As the Yen is hit by solid offers at the open of the Tokyo session, so is the Australian Dollar, which seems to have developed a tight correlation with the Japanese currency as of late.
AUD/USD breaks hourly kijjun
The AUD/USD, after being up over 2 cents (from bottom to top) since Friday, moving from levels below 0.89 up to hit a 2014 high of 0.9085 on Monday, is now on a downward course to test (broken) its hourly kijun line at 0.9035/37, ahead of further static support at the 0.9020/25 vicinity (sequence of lows jan 13).
AUD/USD should not lose 0.90
Any follow through by sellers may see the above layers of support be broken and still keep the picture relatively safe for the bulls. The real danger may come should a selling stampede re-take the 0.90 round number (daily kijun line). If that were to occur, a re-focus towards 0.8950/60 (intersection daily 20-ema, tenkan line) may take place, wit a break lower seeing seller's dominance short term back on track. On the contrary, recovery above 0.9050 would be the first sign of ST bull trend resumption towards 2014 high ahead of potential target of 0.9150 (sequence of high late Nov/early Dec).
AUD/USD breaks hourly kijjun
The AUD/USD, after being up over 2 cents (from bottom to top) since Friday, moving from levels below 0.89 up to hit a 2014 high of 0.9085 on Monday, is now on a downward course to test (broken) its hourly kijun line at 0.9035/37, ahead of further static support at the 0.9020/25 vicinity (sequence of lows jan 13).
AUD/USD should not lose 0.90
Any follow through by sellers may see the above layers of support be broken and still keep the picture relatively safe for the bulls. The real danger may come should a selling stampede re-take the 0.90 round number (daily kijun line). If that were to occur, a re-focus towards 0.8950/60 (intersection daily 20-ema, tenkan line) may take place, wit a break lower seeing seller's dominance short term back on track. On the contrary, recovery above 0.9050 would be the first sign of ST bull trend resumption towards 2014 high ahead of potential target of 0.9150 (sequence of high late Nov/early Dec).