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21 Oct 2014
AUD/USD stalls at 0.8820 area - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that AUD/USD is trading close to the Fibonacci resistance of 0.8820.
Key quotes
"Aussie surged over Asian hours, helped by a better than expected Chinese GDP reading, and a not that dovish RBA Minutes."
"The AUD/USD however, stalled at the Fibonacci resistance of 0.8820, and despite pressuring the level the pair refuses to advance beyond it."
"The 1 hour chart shows 20 SMA offering short term intraday support now around 0.8890, while indicators lack strength yet stand above their midlines."
"In the 4 hours chart technical reading also present a mild positive tone, yet unless a clear acceleration above current levels, the upside remains limited."
Key quotes
"Aussie surged over Asian hours, helped by a better than expected Chinese GDP reading, and a not that dovish RBA Minutes."
"The AUD/USD however, stalled at the Fibonacci resistance of 0.8820, and despite pressuring the level the pair refuses to advance beyond it."
"The 1 hour chart shows 20 SMA offering short term intraday support now around 0.8890, while indicators lack strength yet stand above their midlines."
"In the 4 hours chart technical reading also present a mild positive tone, yet unless a clear acceleration above current levels, the upside remains limited."