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5 Feb 2015
AUD/USD: Bears seek a break below 0.7735 - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD pair retraces from a daily high established at 0.7824, although trading in the green on the day, despite weak Australian Retail Sales released during the last Asian session.
Key Quotes:
"The Aussie has been heavy ever since the RBA cut rates to record lows of 2.25% this week, with the pair finding selling interest on attempts to regain the 0.7800 figure."
"Technically, the 1 hour chart shows that the price pressures a flat 20 SMA a few pips below the current level, while indicators turn lower albeit in neutral territory still. In the 4 hours chart the 20 SMA stands flat around 0.7770 also a static support levels, whilst momentum turned flat near overbought levels and RSI turns lower, entering negative territory."
"In the 4 hours chart. A break below 0.7735 is required to confirm a downward extension towards recent lows at 0.7625."
Key Quotes:
"The Aussie has been heavy ever since the RBA cut rates to record lows of 2.25% this week, with the pair finding selling interest on attempts to regain the 0.7800 figure."
"Technically, the 1 hour chart shows that the price pressures a flat 20 SMA a few pips below the current level, while indicators turn lower albeit in neutral territory still. In the 4 hours chart the 20 SMA stands flat around 0.7770 also a static support levels, whilst momentum turned flat near overbought levels and RSI turns lower, entering negative territory."
"In the 4 hours chart. A break below 0.7735 is required to confirm a downward extension towards recent lows at 0.7625."