19 Jan 2015
AUD/USD lost bearishness, recovery not confirmed - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, while AUD/USD has lost the bearishness that led it for most of the last quarters, it has failed to confirm a recovery.
Key Quotes
"Despite the increase in volatility and market woes, the AUD/USD pair closed the week unchanged, and starts a new one again around the 0.8200 mark. There will be a good number of fundamental releases both in Australia and China during the upcoming days, being probably the most relevant Chinese GDP on Tuesday."
"If the number is weak and continues to show signs of economic slowdown in the country, it may trigger speculation on additional stimulus measures which will have some limited impact on Aussie."
"In the meantime, the pair has lost the bearishness that led it for most of the last quarters, but fails to confirm a recovery, extending its consolidative stage. Short term, the 1 hour chart presents a neutral stance as per indicators diverging from each other and the price hovering around a flat 20 SMA."
"In the 4 hours chart the price remains above a bullish 20 SMA but still below its 200 EMA offering dynamic resistance around 0.8240 now, whilst indicators stand directionless above their midlines."
Key Quotes
"Despite the increase in volatility and market woes, the AUD/USD pair closed the week unchanged, and starts a new one again around the 0.8200 mark. There will be a good number of fundamental releases both in Australia and China during the upcoming days, being probably the most relevant Chinese GDP on Tuesday."
"If the number is weak and continues to show signs of economic slowdown in the country, it may trigger speculation on additional stimulus measures which will have some limited impact on Aussie."
"In the meantime, the pair has lost the bearishness that led it for most of the last quarters, but fails to confirm a recovery, extending its consolidative stage. Short term, the 1 hour chart presents a neutral stance as per indicators diverging from each other and the price hovering around a flat 20 SMA."
"In the 4 hours chart the price remains above a bullish 20 SMA but still below its 200 EMA offering dynamic resistance around 0.8240 now, whilst indicators stand directionless above their midlines."