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2 Jul 2014
AUD/USD bulls confidant above 0.9335
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the worse than expected Australian Trade Balance hit Aussie, down to 0.9428 on the day against the greenback.
Key Quotes:
“The lack of action in commodities and stocks left the pair to its self will, starting a new day now with a mild bearish tone in the short term, as in the hourly chart price stands below its 20 SMA but momentum heads higher in negative territory”.
“In the 4 hours chart latest candle opened below a flat 20 SMA but indicators stand in neutral territory, showing no actual strength at the time being. Below 0.9420 the pair may retest 0.9370 support, but it will be only below 0.9335 that bulls will begin to hesitate”.
Key Quotes:
“The lack of action in commodities and stocks left the pair to its self will, starting a new day now with a mild bearish tone in the short term, as in the hourly chart price stands below its 20 SMA but momentum heads higher in negative territory”.
“In the 4 hours chart latest candle opened below a flat 20 SMA but indicators stand in neutral territory, showing no actual strength at the time being. Below 0.9420 the pair may retest 0.9370 support, but it will be only below 0.9335 that bulls will begin to hesitate”.