15 Jun 2015
Aussie upside limited on RBNZ - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that AUD/USD turned positive last week, but faltered ahead of the 0.7800 level, ending the week around the 0.7730 level.
Key Quotes:
"The Aussie found support in surging metal's prices, and a strong Australian jobs report, released last Thursday. Nevertheless, a surprise rate cut from the RBNZ and some dovish comments from RBA's officers, have kept the upside limited."
"The daily chart shows that the pair has set a double floor in the 0.7600 region, with the neckline of the figure at 0.7818, June 3rd high. In the same chart, the price stands barely above a bearish 20 SMA, whilst the technical indicators present a neutral-to-bearish stance, as the technical indicators have lost their upward strength and turned slightly lower."
"Shorter term, the 4 hours chart shows that the price is now around its 20 SMA, whilst the technical indicators are crossing their mid-lines to the downside, supporting additional declines particularly on a break below the 0.7700 figure."
Key Quotes:
"The Aussie found support in surging metal's prices, and a strong Australian jobs report, released last Thursday. Nevertheless, a surprise rate cut from the RBNZ and some dovish comments from RBA's officers, have kept the upside limited."
"The daily chart shows that the pair has set a double floor in the 0.7600 region, with the neckline of the figure at 0.7818, June 3rd high. In the same chart, the price stands barely above a bearish 20 SMA, whilst the technical indicators present a neutral-to-bearish stance, as the technical indicators have lost their upward strength and turned slightly lower."
"Shorter term, the 4 hours chart shows that the price is now around its 20 SMA, whilst the technical indicators are crossing their mid-lines to the downside, supporting additional declines particularly on a break below the 0.7700 figure."