17 Jun 2014
AUD/USD under pressure - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, Chief analyst at FXstreet noted that the AUD/USD slide stalled at 0.9330 support, under pressure ever since dovish RBA Minutes release.
Key Quotes:
“The hourly chart shows price consolidating near its daily lows, with 20 SMA presenting a clear bearish slope above current price while indicators seem exhausted to the downside and diverge higher”.
“In the 4 hours chart however, indicators maintain a strong bearish momentum, thus a break below the 0.9300 figure is now required to confirm a new leg lower, eyeing then 0.9260 strong static midterm support”.
“A break below this last, should see an increase in the bearish strength, diluting the possibility of a retest of the year high at 0.9460”.
Key Quotes:
“The hourly chart shows price consolidating near its daily lows, with 20 SMA presenting a clear bearish slope above current price while indicators seem exhausted to the downside and diverge higher”.
“In the 4 hours chart however, indicators maintain a strong bearish momentum, thus a break below the 0.9300 figure is now required to confirm a new leg lower, eyeing then 0.9260 strong static midterm support”.
“A break below this last, should see an increase in the bearish strength, diluting the possibility of a retest of the year high at 0.9460”.