AUD/USD bearish below 1hr 100 sma

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/USD is currently at 0.7095 with a high of 0.7120 and a low of 0.7089.

    AUD/USD is offered post the Yuan fix with it weakening more than a big figure to yesterday's fix at 6.5130 and today's at 6.5237. AUD/USD has fallen below the rising channel's support of the 50 sma on the hourly chart making a station for itself below the 100 sma on the same time frame with a recent low of 0.7089. There is little on the calendar for today in respect of the Aussie but tomorrow brings the keenly awaited jobs data.

    AUD/USD levels

    Technically, below the 100 sma the price is in bearish territory. "Further slides below 0.7070 however, will increase chances of a bearish continuation towards the 0.6980 price zone," explained Valeria Bednarik. We are also below the pivot of 0.7123 and advances below 0.6980 opens S3 at 0.6962. RSI (14) on the hourly is neutral.
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