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10 Apr 2015
AUD/USD: Holding up well vs string greenback - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the Australian dollar held pretty fairly against its American rival.
Key Quotes:
"With the pair aiming to close the day flat in the 0.7680 area. Earlier in the day, the AUD/USD pair advanced up to 0.7738, finding selling interest at the 50% retracement of its latest daily fall between 0.7937 and 0.7532, at 0.7740."
"From a short term point of view, the pair presents a mild bearish tone, as the price develops below a flat 20 SMA whilst the technical indicators hover directionless right below their mid-lines."
"In the 4 hours chart the 20 SMA heads higher around 0.7670, providing intraday support in case of additional declines, while the technical indicators have turned lower above their mid-lines, and are about to cross them towards the downside. If the mentioned 0.670 level gives up, the pair can extend its decline down to 0.7625, the 23.% retracement of the same rally."
Key Quotes:
"With the pair aiming to close the day flat in the 0.7680 area. Earlier in the day, the AUD/USD pair advanced up to 0.7738, finding selling interest at the 50% retracement of its latest daily fall between 0.7937 and 0.7532, at 0.7740."
"From a short term point of view, the pair presents a mild bearish tone, as the price develops below a flat 20 SMA whilst the technical indicators hover directionless right below their mid-lines."
"In the 4 hours chart the 20 SMA heads higher around 0.7670, providing intraday support in case of additional declines, while the technical indicators have turned lower above their mid-lines, and are about to cross them towards the downside. If the mentioned 0.670 level gives up, the pair can extend its decline down to 0.7625, the 23.% retracement of the same rally."