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13 Mar 2015
AUD/USD: 0.7660 comes as key support - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the Australian dollar reverted most of its weekly losses against the greenback.
Key Quotes:
"...finding support in better-than-expected employment data in Australia, as the economy added 15.6K new jobs in February, while the unemployment rate fell as expected to 6.3%."
"The AUD/USD pair advanced up to 0.7730 after settling around the 0.7700 level where it now stands. Short term, the 1 hour chart shows that the price holds above a bullish 20 SMA whilst the technical indicators have retraced some from overbought levels, before resuming the advance."
"In the 4 hours chart the 20 SMA is partially losing its bearish slope well below the current level, whilst the technical indicators are losing their bullish upward potential above their mid-lines, reflecting latest consolidation rather than anticipating what's next for the pair."
"Some follow through above 0.7740 should see additional intraday advances, whilst the risk will turn towards the downside with a break below the 0.7660 price zone."
Key Quotes:
"...finding support in better-than-expected employment data in Australia, as the economy added 15.6K new jobs in February, while the unemployment rate fell as expected to 6.3%."
"The AUD/USD pair advanced up to 0.7730 after settling around the 0.7700 level where it now stands. Short term, the 1 hour chart shows that the price holds above a bullish 20 SMA whilst the technical indicators have retraced some from overbought levels, before resuming the advance."
"In the 4 hours chart the 20 SMA is partially losing its bearish slope well below the current level, whilst the technical indicators are losing their bullish upward potential above their mid-lines, reflecting latest consolidation rather than anticipating what's next for the pair."
"Some follow through above 0.7740 should see additional intraday advances, whilst the risk will turn towards the downside with a break below the 0.7660 price zone."