AUD/USD meets 4hr 100 SMA and trendline resistance

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/USD bulls have done the hard work and made their point. The Aussie has the ability to defy gravity and remains supported while above the 0.7000 level while the RBA continue to hold and remain positive on the economic outlook for Australia.

    While the initial bid in the greenback post the Fed hike had the 0.71 handle under pressure, the Aussie staged a good recovery to meet the descending channel's resistance line as we move into the close for the year while we look ahead to what might come of H1 in 2016 for the Aussie.

    FXStreet hosted a special event about what 2016 might hold for the Forex traders. The panelists were Ashraf Laidi, Boris Schlossberg, Adam Button and Valeria Bednarik. Today, we want to share with you the recording of the whole show. Watch now and look out for commentary around the RBA, commodities, China and currency wars.

    AUD/USD levels

    Technically, AUD/USD met the 100 SMA on the 4hr chart at 0.7204while the 200 SMA on the same time frame could offer some short-term support at 0.7195 and 18th Dec resistance. On further bids, intraday rallies are expected to remain capped by 0.7285. To the downside, below the 3 month uptrend at 0.7086, level wise, the 0.7017 November low and the September low is at 0.6940. The 4hr 200 SMA at 0.7190 caps rallies ahead of the 100 SMA on the same time frame at 0.7240.
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