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4 Jun 2015
AUD/USD 200 EMA could come under threat - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that AUD/USD pair has surged to a daily high of 0.7818, but gave up all of its intraday gains to close the day flat in the 0.7770 region.
Key Quotes:
"The daily candle presents a strong upward wick, and practically no body, suggesting an interim top may have been reached this week."
"Technically, the 1 hour chart shows that the price is back below its 20 SMA, now flat around 0.7790, whilst the technical indicators present a slight bearish tone below their mid-lines."
"In the 4 hours chart the price stalled around its 200 EMA around 0.7810, the critical resistance level to break to confirm additional recoveries."
"The Momentum indicator in the mentioned chart, presents a strong upward slope above the 100 level, whilst the 20 SMA also heads north below the current price, and the RSI indicator hovers around 57, all of which should support an advance, particularly if the price breaks above the mentioned 200 EMA."
Key Quotes:
"The daily candle presents a strong upward wick, and practically no body, suggesting an interim top may have been reached this week."
"Technically, the 1 hour chart shows that the price is back below its 20 SMA, now flat around 0.7790, whilst the technical indicators present a slight bearish tone below their mid-lines."
"In the 4 hours chart the price stalled around its 200 EMA around 0.7810, the critical resistance level to break to confirm additional recoveries."
"The Momentum indicator in the mentioned chart, presents a strong upward slope above the 100 level, whilst the 20 SMA also heads north below the current price, and the RSI indicator hovers around 57, all of which should support an advance, particularly if the price breaks above the mentioned 200 EMA."