22 Jan 2015
AUD/USD: 0.8070 is critical support - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, explained that the Australian dollar finally capitulated against the greenback.
Key Quotes:
"...with the pair losing over 100 pips in a couple of hours, edging below 0.8100 by the end of the day."
"The slump in the AUD/USD pair came along with gold sharp reversal following speculation the ECB will announce a 1,1T Euros stimulus."
"The 1 hour chart shows indicators losing the bearish momentum but steady in oversold territory, as the price consolidates near its low of 0.8077, not suggesting yet an upward correction."
"In the 4 hours chart technical readings present a strong bearish momentum supporting further declines particularly if 0.8070 static support gives up, exposing the pair to a test of 0.7960 a major long term static Fibonacci support."
Key Quotes:
"...with the pair losing over 100 pips in a couple of hours, edging below 0.8100 by the end of the day."
"The slump in the AUD/USD pair came along with gold sharp reversal following speculation the ECB will announce a 1,1T Euros stimulus."
"The 1 hour chart shows indicators losing the bearish momentum but steady in oversold territory, as the price consolidates near its low of 0.8077, not suggesting yet an upward correction."
"In the 4 hours chart technical readings present a strong bearish momentum supporting further declines particularly if 0.8070 static support gives up, exposing the pair to a test of 0.7960 a major long term static Fibonacci support."