6 Apr 2015
AUD/USD: technicals favouring additional declines – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook and key levels for AUD/USD.
Key Quotes
“The AUD/USD pair gapped lower at the opening, weighed by market's speculation the RBA will cut its rates in its upcoming Tuesday meeting.”
“The 1 hour chart shows that the price struggles around the 23.6% retracement of its latest bearish run and its 20 SMA both around the current level, whilst the technical indicators head lower, supporting additional declines ahead of the news.”
“In the 4 hours chart the technical indicators remain flat in neutral territory, whilst the 20 SMA is also horizontal around the 0.7600 level, providing a short term intraday support."
“Support levels: 0.7600 0.7565 0.7530”
“Resistance levels: 0.7645 0.7690 0.7735”
Key Quotes
“The AUD/USD pair gapped lower at the opening, weighed by market's speculation the RBA will cut its rates in its upcoming Tuesday meeting.”
“The 1 hour chart shows that the price struggles around the 23.6% retracement of its latest bearish run and its 20 SMA both around the current level, whilst the technical indicators head lower, supporting additional declines ahead of the news.”
“In the 4 hours chart the technical indicators remain flat in neutral territory, whilst the 20 SMA is also horizontal around the 0.7600 level, providing a short term intraday support."
“Support levels: 0.7600 0.7565 0.7530”
“Resistance levels: 0.7645 0.7690 0.7735”