28 Oct 2013
AUD/USD breaks bellow 0.9570 and collapses further
FXstreet.com (San Francisco) - After falling around 60 pips from the 0.9620 in the latest few hours, the AUD/USD broke down the 0.9570 (Oct 24 & 25 lows) key support and currently it's trading around 0.9555, lowest since October 17.
The Aussie attempted to recover ground from 0.9570 against the greenback bit it failed around 0.9620 daily high. "The hourly chart shows price accelerating below 20 SMA as indicators turn south gaining bearish momentum and supporting a break lower," comments FXstreet.com chief analyst Valeria Bednarik. "In the 4 hours chart the advance was contained by a bearish 20 SMA around mentioned high, and only a clear break above it will deny the intraday bearish tone of the pair."
AUD/USD technicals
Currently, the AUD/USD is trading at 0.9560, 0.23% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as Momentum, CCI and MACD are pointing to the south while the Stochastic is neutral.
The AUD/USD would face resistances at 0.9620 (daily high) and 0.9670 (Oct 24 high), while supports could be found at 0.9550 and 0.9525 (20-day SMA).
The Aussie attempted to recover ground from 0.9570 against the greenback bit it failed around 0.9620 daily high. "The hourly chart shows price accelerating below 20 SMA as indicators turn south gaining bearish momentum and supporting a break lower," comments FXstreet.com chief analyst Valeria Bednarik. "In the 4 hours chart the advance was contained by a bearish 20 SMA around mentioned high, and only a clear break above it will deny the intraday bearish tone of the pair."
AUD/USD technicals
Currently, the AUD/USD is trading at 0.9560, 0.23% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as Momentum, CCI and MACD are pointing to the south while the Stochastic is neutral.
The AUD/USD would face resistances at 0.9620 (daily high) and 0.9670 (Oct 24 high), while supports could be found at 0.9550 and 0.9525 (20-day SMA).