6 Jan 2015
Aussie maintains long term weak tone - FXStreet
FXStreet (Bali) - The Aussie maintains its long term weak tone, despite the 1 hour chart shows a mild positive tone, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The AUD/USD recovered from a daily low of 0.8034 up to 0.8106 in the American afternoon, finding some support in gold recovery as the commodity surged again above the $1,200.00 mark. The Aussie however maintains its long term weak tone, although the 1 hour chart shows a mild positive tone, with indicators aiming higher above their midlines and the price extending above its 20 SMA."
"In the 4 hours chart however, 20 SMA caps the upside currently around 0.8135, whilst indicators hold below their midlines. A recovery next to extend above the 0.8135 resistance to confirm further advances for the day, whilst a slide below 0.8060 will likely see the pair resuming its slide towards 0.8020 support zone."
Key Quotes
"The AUD/USD recovered from a daily low of 0.8034 up to 0.8106 in the American afternoon, finding some support in gold recovery as the commodity surged again above the $1,200.00 mark. The Aussie however maintains its long term weak tone, although the 1 hour chart shows a mild positive tone, with indicators aiming higher above their midlines and the price extending above its 20 SMA."
"In the 4 hours chart however, 20 SMA caps the upside currently around 0.8135, whilst indicators hold below their midlines. A recovery next to extend above the 0.8135 resistance to confirm further advances for the day, whilst a slide below 0.8060 will likely see the pair resuming its slide towards 0.8020 support zone."