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20 Aug 2013
AUD/USD bounces off sub-0.91 lows post-RBA
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.9120 bids, off recent session lows at 0.9089 following the RBA minutes, that offered “Nothing to see really,” said Treasury dealer at Arab Bank David Scutt.
AUD/USD bears are now in control
According to Valeria Bednarik, Chief Analyst at Fxstreet.com the AUD/USD has given “one step closer to resume the long term bearish trend the pair has. The hourly chart shows price developing well below its 20 SMA as indicators aim higher from oversold levels, although price fails to correct higher, which suggests bears are now in control. In the 4 hours chart technical readings also turned bearish and support the shorter term view, with a break below 0.9070 pointing for a retest of key 0.9000 level.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.9110, 0.9070 and 0.9030, while resistance levels: 0.9150, 0.9180 and 0.9220.
AUD/USD bears are now in control
According to Valeria Bednarik, Chief Analyst at Fxstreet.com the AUD/USD has given “one step closer to resume the long term bearish trend the pair has. The hourly chart shows price developing well below its 20 SMA as indicators aim higher from oversold levels, although price fails to correct higher, which suggests bears are now in control. In the 4 hours chart technical readings also turned bearish and support the shorter term view, with a break below 0.9070 pointing for a retest of key 0.9000 level.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.9110, 0.9070 and 0.9030, while resistance levels: 0.9150, 0.9180 and 0.9220.