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2 Mar 2015
AUD/USD might test 0.7720 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that with technicals biased into negative territory, AUD/USD might move towards 0.7720 on a break below 0.7755 levels.
Key Quotes
“The AUD/USD pair fell down to 0.7755 weighed by speculation the RBA may cut rates during its upcoming Tuesday meeting.”
“The pair trades below the 0.7800 level ever since the week started, and the 1 hour chart shows that a strongly bearish 20 SMA capped the upside and continues to head lower above the current price, while the technical indicators are turning south below their midlines.”
“In the 4 hours chart the technical indicators are biased lower well into negative territory with scope to extend its decline down to 0.7720 if the mentioned daily low gives up.”
“Support levels: 0.7755 0.7720 0.7680”
“Resistance levels: 0.7800 0.7840 0.7890”
Key Quotes
“The AUD/USD pair fell down to 0.7755 weighed by speculation the RBA may cut rates during its upcoming Tuesday meeting.”
“The pair trades below the 0.7800 level ever since the week started, and the 1 hour chart shows that a strongly bearish 20 SMA capped the upside and continues to head lower above the current price, while the technical indicators are turning south below their midlines.”
“In the 4 hours chart the technical indicators are biased lower well into negative territory with scope to extend its decline down to 0.7720 if the mentioned daily low gives up.”
“Support levels: 0.7755 0.7720 0.7680”
“Resistance levels: 0.7800 0.7840 0.7890”