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28 Jan 2015
AUD/USD with bearish bias ahead of CPI - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar remained subdued against the greenback.
Key Quotes:
"The pair saw a limited advance up to 0.7974 before easing back towards its daily opening level."
"Aussie will have to face local inflation data to be release during the upcoming Asian session, expected to have shrink to 1.8% in the last quarter of 2014, against previous quarter reading of 2.3%."
"A reading below expected should keep the pair in bearish mode, while strong selling interest still stands around the 0.7965 price zone."
The 1 hour chart shows that price broke below its 20 SMA while indicators head lower below their midlines, pointing for some further declines in the short term."
"In the 4 hours chart price struggles around a strongly bearish 20 SMA, while indicators hovers around their midlines, diverging from each other and therefore not giving a clear directional bias.
Key Quotes:
"The pair saw a limited advance up to 0.7974 before easing back towards its daily opening level."
"Aussie will have to face local inflation data to be release during the upcoming Asian session, expected to have shrink to 1.8% in the last quarter of 2014, against previous quarter reading of 2.3%."
"A reading below expected should keep the pair in bearish mode, while strong selling interest still stands around the 0.7965 price zone."
The 1 hour chart shows that price broke below its 20 SMA while indicators head lower below their midlines, pointing for some further declines in the short term."
"In the 4 hours chart price struggles around a strongly bearish 20 SMA, while indicators hovers around their midlines, diverging from each other and therefore not giving a clear directional bias.