30 Apr 2015
AUD/USD loses 0.80 handle again
FXStreet (Bali) - After a mild recovery off sub 0.80 levels in early Asia the Australian Dollar has given up intraday gains, currently trading just below the roudn number, with 0.7978 the next target eyed, Wednesday's low.
Jim Langlands, Founder at FXCharts, notes: "While the dailies remain positive, the short term indicators have become overbought and look to be turning lower, so it looks as though we are going to be in for a session of choppy consolidation, possibly not too far removed from 0.8000."
Below Wednesday's low, Jim sees "a chance of a move back towards 0.7952 (23.6% of 0.7552/0.8075) below which there is not too much to hold it up ahead of 0.7900."
Jim Langlands, Founder at FXCharts, notes: "While the dailies remain positive, the short term indicators have become overbought and look to be turning lower, so it looks as though we are going to be in for a session of choppy consolidation, possibly not too far removed from 0.8000."
Below Wednesday's low, Jim sees "a chance of a move back towards 0.7952 (23.6% of 0.7552/0.8075) below which there is not too much to hold it up ahead of 0.7900."