23 Jan 2014
AUD/USD testing bids 0.8830, stops not found so far...
FXstreet.com (Bali) - AUD/USD is drifting lower ahead of the China flash PMI, with the market breaking below the hourly tenkan line at 0.8835 testing bids at 0.8825/30.
AUD CPI-driven euphoria fades
The strong CPI numbers released in Australia yesterday gave the Australian Dollar an immediate boost in the last Asian session, however, committed sellers camped at the supply area 0.8880/0.89 succeeded at turning prices lower.
AUD/USD technicals
Technically, in view of Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart shows price below its 20 SMA, and indicators flat in neutral territory, while in the 4 hours chart indicators turned south yet hold above their midlines. A break below 0.8820 should deny the possibility of more recoveries, and see the pair resuming its bearish trend, while sellers remain in the 0.8880/0.8920 zone."
AUD CPI-driven euphoria fades
The strong CPI numbers released in Australia yesterday gave the Australian Dollar an immediate boost in the last Asian session, however, committed sellers camped at the supply area 0.8880/0.89 succeeded at turning prices lower.
AUD/USD technicals
Technically, in view of Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart shows price below its 20 SMA, and indicators flat in neutral territory, while in the 4 hours chart indicators turned south yet hold above their midlines. A break below 0.8820 should deny the possibility of more recoveries, and see the pair resuming its bearish trend, while sellers remain in the 0.8880/0.8920 zone."