12 Jan 2015
AUD/USD: Bullish while above 0.8150 - FXStreet
FXStreet (Bali) - AUD/USD's bullish dynamics near term are firming up early this week, with Valeria Bednarik, Chief Analyst at FXStreet, noting that as long as the pair holds 0.8150, bulls will maintain the lead of the pair.
Key Quotes
"The AUD/USD pair recovered up to the 0.8200 price zone, where it stands as a new week starts. Earlier last week, the pair fell as low as 0.8032, from where it turned back higher, maintaining a short term positive tone. The 1 hour chart shows that the price stands well above a bullish 20 SMA as indicators aim higher despite in overbought territory."
"In the 4 hours technical readings also present a bullish bias, anticipating some further advances for today. The pair has an immediate short term resistance around the 0.8225 level, and it needs to break clearly above it to extend its intraday advance. To the downside, the level to follow is 0.8150 as dips towards it may attract intraday buyers. As long as price holds above this last, bulls will maintain the lead of the pair, yet a break below it should lead to a steady decline towards the 0.8110 price zone."
Key Quotes
"The AUD/USD pair recovered up to the 0.8200 price zone, where it stands as a new week starts. Earlier last week, the pair fell as low as 0.8032, from where it turned back higher, maintaining a short term positive tone. The 1 hour chart shows that the price stands well above a bullish 20 SMA as indicators aim higher despite in overbought territory."
"In the 4 hours technical readings also present a bullish bias, anticipating some further advances for today. The pair has an immediate short term resistance around the 0.8225 level, and it needs to break clearly above it to extend its intraday advance. To the downside, the level to follow is 0.8150 as dips towards it may attract intraday buyers. As long as price holds above this last, bulls will maintain the lead of the pair, yet a break below it should lead to a steady decline towards the 0.8110 price zone."