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7 Jan 2014
AUD/USD a constructive pattern?
FXstreet.com (Guatemala) - AUD/USD could be building a continuation pattern to the downside on the 0.89 handle.
AUD/USD has consolidated into a tight range with a neutral to bearish bias. The markets are nervous ahead a big week with Central banks meeting. Meanwhile, the analyst team at Commerzbank said, “A close above 0.8990 would complete a small base and point to recovery to 0.9166/80, the December high and the 38.2% retracement of the move down from October”. Coming up we have retail sales for Australia.
AUD/USD Levels
The 20 DMA is 0.8933, the 50 DMA is 0.9145 and the 200 DMA is 0.9433. RSI (14) reads 47.86. Supports are ascending from 0.8820, 0.8834, 0.8886, 0.8900. Spot is currently 0.8921, 0.8983, 0.9005, 0.9047 and 0.9083.
AUD/USD has consolidated into a tight range with a neutral to bearish bias. The markets are nervous ahead a big week with Central banks meeting. Meanwhile, the analyst team at Commerzbank said, “A close above 0.8990 would complete a small base and point to recovery to 0.9166/80, the December high and the 38.2% retracement of the move down from October”. Coming up we have retail sales for Australia.
AUD/USD Levels
The 20 DMA is 0.8933, the 50 DMA is 0.9145 and the 200 DMA is 0.9433. RSI (14) reads 47.86. Supports are ascending from 0.8820, 0.8834, 0.8886, 0.8900. Spot is currently 0.8921, 0.8983, 0.9005, 0.9047 and 0.9083.