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2 Apr 2015
AUD/USD: No tech signs of a recovery - FXStreet
FXStreet (Bali) - There are no technical signs suggesting a possible recovery in AUD/USD during the upcoming hours, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"Technically, the 1 hour chart shows that the price remains below its 20 SMA, whilst the indicators are directionless in negative territory, as the pair has been contained in quite a limited intraday range."
"In the 4 hours chart the 20 SMA maintains a strong bearish slope, capping the upside around 0.7650 now, whilst the RSI indicator heads lower around 33."
"The Momentum indicator in this last time frame however, diverges to the upside, approaching its 100 level from below."
"Nevertheless, there are no other technical signs that the price may attempt to recovery during the upcoming hours, as only some steady advance beyond 0.7650 will help the pair to post additional advances towards the 0.7690 price zone."
Key Quotes
"Technically, the 1 hour chart shows that the price remains below its 20 SMA, whilst the indicators are directionless in negative territory, as the pair has been contained in quite a limited intraday range."
"In the 4 hours chart the 20 SMA maintains a strong bearish slope, capping the upside around 0.7650 now, whilst the RSI indicator heads lower around 33."
"The Momentum indicator in this last time frame however, diverges to the upside, approaching its 100 level from below."
"Nevertheless, there are no other technical signs that the price may attempt to recovery during the upcoming hours, as only some steady advance beyond 0.7650 will help the pair to post additional advances towards the 0.7690 price zone."