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26 Jan 2015
AUD/USD made new multi year low s- FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD pair fell to a fresh multi-year lows around 0.7860 at the opening, gapping lower on dollar demand.
Key Quotes:
"After consolidating for almost two weeks above the key psychological figure of 0.8000, the pair resumed its slide following ECB’s movement that boosted dollar demand."
"The short term picture shows a strong bearish momentum coming from technical indicators, whilst 20 SMA is almost vertical above the current levels, while in the 4 hours chart, RSI resumed its decline below 30 and momentum hovers directionless in extreme oversold readings."
"Bears will likely maintain the lead, with pullbacks up to critical 0.7960 seen as selling opportunities, as the level stands for the 61.8% retracement of the 2008/2011 bullish run."
Key Quotes:
"After consolidating for almost two weeks above the key psychological figure of 0.8000, the pair resumed its slide following ECB’s movement that boosted dollar demand."
"The short term picture shows a strong bearish momentum coming from technical indicators, whilst 20 SMA is almost vertical above the current levels, while in the 4 hours chart, RSI resumed its decline below 30 and momentum hovers directionless in extreme oversold readings."
"Bears will likely maintain the lead, with pullbacks up to critical 0.7960 seen as selling opportunities, as the level stands for the 61.8% retracement of the 2008/2011 bullish run."