1 Dec 2014
AUD recovers against the greenback - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that AUD recovered against the dollar alongside gold, trading with a short-term bullish bias above 0.8500 level.
Key Quotes
“Australian dollar recovers against the greenback alongside with gold, trading right above the 0.8500 level and with a short term bullish bias, as the 1 hour chart shows price above its 20 SMA and indicators heading higher above their midlines.”
“In the 4 hours chart however, 20 SMA maintains a strong bearish slope offering dynamic resistance around the daily high of 0.8516, while indicators head lower below their midlines, suggesting current recovery is not enough to revert the dominant bearish trend.“
“Above this last, the recovery can extend up to 0.8570/80 price zone, yet below 0.8490 the pair is likely to resume its slide back towards the 0.8400 figure.”
Key Quotes
“Australian dollar recovers against the greenback alongside with gold, trading right above the 0.8500 level and with a short term bullish bias, as the 1 hour chart shows price above its 20 SMA and indicators heading higher above their midlines.”
“In the 4 hours chart however, 20 SMA maintains a strong bearish slope offering dynamic resistance around the daily high of 0.8516, while indicators head lower below their midlines, suggesting current recovery is not enough to revert the dominant bearish trend.“
“Above this last, the recovery can extend up to 0.8570/80 price zone, yet below 0.8490 the pair is likely to resume its slide back towards the 0.8400 figure.”