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16 Jan 2015
AUD/USD benefactor or market turmoil - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the Australian dollar benefited alongside with the gold, surging against the greenback up to 0.8294.
Key Quotes:
"Earlier on the day, Australian employment figures came out better than expected, giving short term intraday support to the pair that anyway drifted lower on panic selling before finally bouncing higher."
"At the end of the day, the pair stands above the 0.8200 level, with an overall positive tone ahead. Short term the 1 hour chart shows that indicators finally stabilized above their midlines, whilst 20 SMA maintains a strong bullish slope providing intraday support a few pips below current price."
"In the 4 hours chart, the price was unable to establish itself above the 200 EMA, currently offering resistance around 0.8260. It will take some steady gains above this level to confirm further advances, with a break above 0.8300 supporting a midterm upward extension towards 0.8550, 50% retracement of the last years bullish run."
Key Quotes:
"Earlier on the day, Australian employment figures came out better than expected, giving short term intraday support to the pair that anyway drifted lower on panic selling before finally bouncing higher."
"At the end of the day, the pair stands above the 0.8200 level, with an overall positive tone ahead. Short term the 1 hour chart shows that indicators finally stabilized above their midlines, whilst 20 SMA maintains a strong bullish slope providing intraday support a few pips below current price."
"In the 4 hours chart, the price was unable to establish itself above the 200 EMA, currently offering resistance around 0.8260. It will take some steady gains above this level to confirm further advances, with a break above 0.8300 supporting a midterm upward extension towards 0.8550, 50% retracement of the last years bullish run."