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23 Dec 2014
AUD/USD contained by 0.8100
FXStreet (Guatemala) - AUD/USD is trading at 0.8096, having posted a daily high at 0.8100 and low at 0.8096.
AUD/USD is now contained by the 0.8100 level acting as resistance. The pair initially dropped below the handle overnight based upon lower iron ore. Pressures are coming also the greenback that continues to advance across the board. Furthermore, the Aussie is speculated to either fall further by RBA intervention or via rate cuts next year, or both.
For now, however and technically, a period of consolidation might be expected with a slight bearish bias in oversold conditions. Valeria Bednarik, chief analyst at FXStreet noted that in the 4 hours chart, “The 20 SMA continues to act as dynamic resistance currently around 0.8135, whist indicators head south in negative territory, supporting the dominant bearish trend”.
AUD/USD is now contained by the 0.8100 level acting as resistance. The pair initially dropped below the handle overnight based upon lower iron ore. Pressures are coming also the greenback that continues to advance across the board. Furthermore, the Aussie is speculated to either fall further by RBA intervention or via rate cuts next year, or both.
For now, however and technically, a period of consolidation might be expected with a slight bearish bias in oversold conditions. Valeria Bednarik, chief analyst at FXStreet noted that in the 4 hours chart, “The 20 SMA continues to act as dynamic resistance currently around 0.8135, whist indicators head south in negative territory, supporting the dominant bearish trend”.