Will the Australian dollar extend its impressive 2016 run?

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Following its climb to 8-month highs versus the US dollar, the Australian dollar has retreated somewhat; posting a particularly sharp drop after today’s RBA meeting. Specifically, the aussie has fallen from the 0.7772 high to 0.7510 in less than a week. The aussie had traded as low as 0.6826 during the first half of January. Looking at the charts, the aussie’s move looks like a normal reaction from overbought levels following a rapid move higher and the currency still lies far above its 200-day

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