22 Dec 2014
AUD/USD offered beneath descending resistance
FXStreet (Guatemala) - AUD/USD is trading at 0.8128, down -0.04% on the day, having posted a daily high at 0.8133 and low at 0.8128.
AUD/USD has been confined to a tight range on the downside and contained by the descending resistance headed towards 0.8120. The pair is subject to the risks focussed around 2015 and the divergences between Central Banks. The RBA continues to express concerns that warrant a lower domestic currency.
Meanwhile, we are quiet on the data front for the pair until the US delivers durable goods and GDP numbers ahead of the Christmas break. Technically, as Valeria Bednarik, chief analyst at FXStreet explains, the 1-hour chart shows that the price is developing below its 20 SMA as momentum and RSI regain the downside, extending below their midlines. “In the 4 hours chart technical readings are also biased lower supporting the shorter term view”.
AUD/USD has been confined to a tight range on the downside and contained by the descending resistance headed towards 0.8120. The pair is subject to the risks focussed around 2015 and the divergences between Central Banks. The RBA continues to express concerns that warrant a lower domestic currency.
Meanwhile, we are quiet on the data front for the pair until the US delivers durable goods and GDP numbers ahead of the Christmas break. Technically, as Valeria Bednarik, chief analyst at FXStreet explains, the 1-hour chart shows that the price is developing below its 20 SMA as momentum and RSI regain the downside, extending below their midlines. “In the 4 hours chart technical readings are also biased lower supporting the shorter term view”.