Back
27 Mar 2015
AUD/USD is strongly bearish on 4-hour - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD pair posted a lower high daily basis before resuming its decline, posting its third negative day in a row.
Key Quotes:
"The sentiment towards the Aussie is negative, considering investors are still pricing in a rate cut as soon as next month in Australia."
"Trading near the daily low established during the past Asian session at 0.7800, the 1 hour chart presents a mild bearish tone, as the price develops below its 20 SMA whilst the Momentum indicator presents a tepid bearish slope below 100 and the RSI anticipates additional declines, heading lower around 37."
"In the 4 hours chart the technical picture is strongly bearish, as the price extends below its 20 SMA while the technical indicators maintain a strong bearish bias below their mid-lines."
"In this last time frame, the 200 EMA stands around 0.7770, providing a strong dynamic support, which means a break below it should favor further dollar gains, eyeing an approach to the 0.7720/30 price zone."
Key Quotes:
"The sentiment towards the Aussie is negative, considering investors are still pricing in a rate cut as soon as next month in Australia."
"Trading near the daily low established during the past Asian session at 0.7800, the 1 hour chart presents a mild bearish tone, as the price develops below its 20 SMA whilst the Momentum indicator presents a tepid bearish slope below 100 and the RSI anticipates additional declines, heading lower around 37."
"In the 4 hours chart the technical picture is strongly bearish, as the price extends below its 20 SMA while the technical indicators maintain a strong bearish bias below their mid-lines."
"In this last time frame, the 200 EMA stands around 0.7770, providing a strong dynamic support, which means a break below it should favor further dollar gains, eyeing an approach to the 0.7720/30 price zone."