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31 Mar 2015
AUD/USD: Bearish while below 0.77 - FXStreet
FXStreet (Bali) - AUD/USD has been the heaviest pair on Monday, with Valeria Bednarik, Chief Analyst at FXStreet, noting that as long as below the 0.7700 figure, the downside is favored.
Key Quotes
"The pair fell as low as 0.7632 before posting a limited bounce by US close, but maintains a strong negative bias."
"Technically the 1 hour chart shows that the price holds below a strongly bearish 20 SMA, whilst the Momentum indicator remains flat below 100 and the RSI aims higher around 24."
"In the 4 hours chart the 20 SMA crossed below the 200 EMA in the 0.7770/80 area, whilst the technical indicators are posting some tepid advances in overbought territory, still not enough to confirm a short term recovery."
"As long as below the 0.7700 figure, the downside is favored, with a break below the mentioned daily low exposing 0.7559, this year low posted early March."
Key Quotes
"The pair fell as low as 0.7632 before posting a limited bounce by US close, but maintains a strong negative bias."
"Technically the 1 hour chart shows that the price holds below a strongly bearish 20 SMA, whilst the Momentum indicator remains flat below 100 and the RSI aims higher around 24."
"In the 4 hours chart the 20 SMA crossed below the 200 EMA in the 0.7770/80 area, whilst the technical indicators are posting some tepid advances in overbought territory, still not enough to confirm a short term recovery."
"As long as below the 0.7700 figure, the downside is favored, with a break below the mentioned daily low exposing 0.7559, this year low posted early March."