16 Feb 2015
AUD bearish trend prevails – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical setup for AUD/USD, noting that a break below 0.7720 is required to confirm a new leg lower for the pair.
Key Quotes
“The AUD/USD trades steady around the 38.2% retracement of its latest daily bullish run, barely a couple of pips above its daily opening.”
“The 1 hour chart shows that the price hovers around a flat 20 SMA while indicators lie directionless in neutral territory. In the 4 hours chart the price holds above its 20 SMA, but the technical indicators lost upward potential and now head lower, but remain above their midlines.”
“Overall, the bearish trend prevails although a break below 0.7720 the immediate support, is required to confirm a new leg lower towards the 0.7665 price zone.“
“Support levels: 0.7720 0.7690 0.7665”
“Resistance levels: 0.7780 0.7830 0.7865”
Key Quotes
“The AUD/USD trades steady around the 38.2% retracement of its latest daily bullish run, barely a couple of pips above its daily opening.”
“The 1 hour chart shows that the price hovers around a flat 20 SMA while indicators lie directionless in neutral territory. In the 4 hours chart the price holds above its 20 SMA, but the technical indicators lost upward potential and now head lower, but remain above their midlines.”
“Overall, the bearish trend prevails although a break below 0.7720 the immediate support, is required to confirm a new leg lower towards the 0.7665 price zone.“
“Support levels: 0.7720 0.7690 0.7665”
“Resistance levels: 0.7780 0.7830 0.7865”