25 Jun 2014
Will we see further slides in AUD/USD? – FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD erased Monday gains trading near its daily low of 0.9370 strong static support in the US session.
Key Quotes:
“The hourly chart presents a clear bearish momentum, albeit RSI is losing strength in oversold territory, while the 4 hours chart shows a similar picture”.
“Further slides should anticipate a test of the 0.9320/30 price zone, yet a break below 0.9300 is required to confirm a bearish continuation through the day”.
“Back above 0.9400 however, bulls may attempt to push price to fresh monthly highs and reach 0.9460 before taking profits out of the table”.
Key Quotes:
“The hourly chart presents a clear bearish momentum, albeit RSI is losing strength in oversold territory, while the 4 hours chart shows a similar picture”.
“Further slides should anticipate a test of the 0.9320/30 price zone, yet a break below 0.9300 is required to confirm a bearish continuation through the day”.
“Back above 0.9400 however, bulls may attempt to push price to fresh monthly highs and reach 0.9460 before taking profits out of the table”.