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27 Nov 2014
AUD/USD resting after a positive US session - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar fell down to 0.8479 against the greenback.
Key Quotes:
“Albeit dollar weakness during US hours favored a recovery in the pair to current levels”.
“The movement was trend-drove, as the AUD/USD stands in a bear market”.
“The 1 hour chart shows price now stands above a flat 20 SMA while indicators overcome their midlines showing no actual strength”.
“In the 4 hours chart however, indicators barely bounced from extreme oversold levels and hold deep in the red, while 20 SMA maintains a strong bearish slope well above current price".
"Intraday rallies, if happen, will likely find sellers in the 0.8580/0.8610 price zone, while a short term slide below 0.8530 will likely anticipate further declines back towards the 4-year low posted this Wednesday”.
Key Quotes:
“Albeit dollar weakness during US hours favored a recovery in the pair to current levels”.
“The movement was trend-drove, as the AUD/USD stands in a bear market”.
“The 1 hour chart shows price now stands above a flat 20 SMA while indicators overcome their midlines showing no actual strength”.
“In the 4 hours chart however, indicators barely bounced from extreme oversold levels and hold deep in the red, while 20 SMA maintains a strong bearish slope well above current price".
"Intraday rallies, if happen, will likely find sellers in the 0.8580/0.8610 price zone, while a short term slide below 0.8530 will likely anticipate further declines back towards the 4-year low posted this Wednesday”.