7 Aug 2015
AUD/USD: limited upside potential - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained conditions surrounding AUD/USD.
Key Quotes:
"AUD/USD advanced to a daily high of 0.7391 during the past Asian session, following the release of Australian employment figures, showing that the country managed to create 38.5K new jobs against expectations of 15K, although the Aussie quickly shed its gains, as at the same time, the unemployment rate sore to 6.3%."
"Also, failure around the 0.7400 level and the fact that the pair posted a lower low daily basis, suggest selling interest is building up after the latest RBA shock. Now consolidating above the 0.7300 level, the 1 hour chart presents a mild positive tone, as the price holds a few pips above its 20 SMA, whilst the technical indicators are aiming higher, but in neutral territory."
"In the 4 hours chart, the price is hovering around a mild bullish 20 SMA, the Momentum indicator heads sharply lower below the 100 level and the RSI lacks strength around 52, giving little room for a stronger recovery during the upcoming session."
Key Quotes:
"AUD/USD advanced to a daily high of 0.7391 during the past Asian session, following the release of Australian employment figures, showing that the country managed to create 38.5K new jobs against expectations of 15K, although the Aussie quickly shed its gains, as at the same time, the unemployment rate sore to 6.3%."
"Also, failure around the 0.7400 level and the fact that the pair posted a lower low daily basis, suggest selling interest is building up after the latest RBA shock. Now consolidating above the 0.7300 level, the 1 hour chart presents a mild positive tone, as the price holds a few pips above its 20 SMA, whilst the technical indicators are aiming higher, but in neutral territory."
"In the 4 hours chart, the price is hovering around a mild bullish 20 SMA, the Momentum indicator heads sharply lower below the 100 level and the RSI lacks strength around 52, giving little room for a stronger recovery during the upcoming session."