20 Feb 2015
AUD/USD: Buyers exhausting their bullets?
FXStreet (Bali) - AUD/USD continues to be choppy, with attempts by short term buyers being met by constant exhaustion above 0.7840.
It remaisn to be seen which side will eventually take the most biased short term control, with the daily looking technically ugly at the moment, but evidence amounts that near term, an increased in buying activity has been seen, seeking better value levels topside to potentially reset shorts.
Jim Langlands, Founder at FXCharts, notes: "While I retain and overall bearish stance on the Aud, the daily indicators still have a positive bias, and that being the case, the downtrend is unlikely to resume in earnest for the time being and I suspect we are in for some more of the same choppy trade heading into next week."
It remaisn to be seen which side will eventually take the most biased short term control, with the daily looking technically ugly at the moment, but evidence amounts that near term, an increased in buying activity has been seen, seeking better value levels topside to potentially reset shorts.
Jim Langlands, Founder at FXCharts, notes: "While I retain and overall bearish stance on the Aud, the daily indicators still have a positive bias, and that being the case, the downtrend is unlikely to resume in earnest for the time being and I suspect we are in for some more of the same choppy trade heading into next week."