AUD/USD quickly approaching 0.9420 support - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik remarks that AUD/USD is retreating from 0.9475, the fresh 3-week high posted over Asian hours, and is quickly approaching the 0.9420 support.

Key quotes

“The hourly chart shows price back below its 20 SMA, while indicators head slightly south below their midlines.”

“In the 4 hours chart indicators eased from oversold levels but hold above their midlines while 20 SMA maintains a strong bullish slope a few pips below current price."

“A price acceleration below 0.9410 should support a continued slide towards 0.9370 price zone.”