20 Jun 2014
AUD/USD: Down potential increases below 0.9370 - FXStreet
FXStreet (Bali) - The surge in the AUD/USD post FOMC failed to extend on Thursday, with the pair retreating towards 0.9390 from a 0.9430 high, with sellers now in need to break below 0.9370 to accelerate progress, Valeria Bednarik, Chief Analyst at FXStreet, notes.
Key Quotes
"The short term picture presents a mild bearish tone, trading below its 20 SMA and with indicators in neutral territory, while the 4 hours chart shows indicators losing upward strength but above their midlines."
"Downward potential can increase on a break below 0.9370, back towards the weekly lows of 0.9330, while a sudden recovery will target 0.9460 this year high."
Key Quotes
"The short term picture presents a mild bearish tone, trading below its 20 SMA and with indicators in neutral territory, while the 4 hours chart shows indicators losing upward strength but above their midlines."
"Downward potential can increase on a break below 0.9370, back towards the weekly lows of 0.9330, while a sudden recovery will target 0.9460 this year high."