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3 Dec 2014
AUD/USD pressured from all sides - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained that the Aussie consolidates near its daily low of 0.8432 against the greenback.
Key Quotes:
“Under pressure since RBA monthly economic policy decision to leave rates unchanged at 2.5% and Governor Stevens reaffirmed the need of a lower local currency to boost economic recovery”.
“The AUD/USD hourly chart shows price below a bearish 20 SMA whilst indicators remains well into the red supporting the dominant bearish trend, albeit latest consolidative range sees them losing the downward strength in the short term”.
“In the 4 hours chart 20 SMA capped the upside once again, now in the 0.8490 price zone, while momentum turned strongly south below 100 and RSI holds around 38, supporting the shorter term view”.
“The year low stands at 0.8416 with a break below favoring a continued slide towards 0.8360/70 area, where the pair presents several daily highs and lows back from May/July 2010”.
Key Quotes:
“Under pressure since RBA monthly economic policy decision to leave rates unchanged at 2.5% and Governor Stevens reaffirmed the need of a lower local currency to boost economic recovery”.
“The AUD/USD hourly chart shows price below a bearish 20 SMA whilst indicators remains well into the red supporting the dominant bearish trend, albeit latest consolidative range sees them losing the downward strength in the short term”.
“In the 4 hours chart 20 SMA capped the upside once again, now in the 0.8490 price zone, while momentum turned strongly south below 100 and RSI holds around 38, supporting the shorter term view”.
“The year low stands at 0.8416 with a break below favoring a continued slide towards 0.8360/70 area, where the pair presents several daily highs and lows back from May/July 2010”.