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AUD/USD (AUDUSD)

Pipinstinct · 18 · 14641

MetisEtradePR

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Reply #15 on: Jan 08, 2015, 04:38 PM


Support and Resistance Level

For over two months, AUDUSD has been moving in a clear downtrend. A sell opportunity should be taken advantage of after the possible bounce from the 0.81445 resistance level. Profit-taking should be done before the 0.80296 support level is reached.

Trend Indicators

The 10-day (red line), 20-day (blue line) and 50-day (orange line) simple moving average of the AUDUSD chart confirms that the currency pair has been moving in a downtrend. The short-term simple moving average can serve as a near resistance level of this downtrend.

Oscillators

The relative strength index (RSI) level of the four-hour chart reveals that the currency pair is neither of overbought nor oversold at 48.02. This confirms that there is room for the currency pair to temporarily go up before going down.


MetisEtradePR

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Reply #16 on: Feb 03, 2015, 07:07 PM


In their meeting today, the Reserve Bank of Australia decided to cut interest rates to 2.25% from 2.50% effective on February 4. The decision to cut interest rates was mainly due to lower forecasts in global growth and inflation. Because of the decline in energy prices, there is expectation that global growth and inflation will remain below trend longer. The rate cut was implemented in order to encourage sustainable growth and inflation that is in line with the target.

As a commodity exporter, the RBA has been pushing for lower rates with the intention of making their exports more competitive. Two months ago, the central bank head announced that he’d prefer the Aussie to be at 0.75 cents.


MetisEtradePR

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Reply #17 on: Apr 16, 2015, 07:20 PM


Support and Resistance Level

While AUDUSD remains bearish in the long-term, the currency could be seen ranging in the medium-term. Taking advantage of this movement sideways is possible as the price is currently on its way to test resistance at 0.7850. Selling after a bounce from the said ceiling is recommended, with profit-taking near the support at 0.7580.

Trend Indicators

The 100-day (red line) and 200-day (blue line) simple moving averages confirm that the Aussie’s downward trend remains intact. Resistance from the slow SMA currently holds at 0.78540.

Oscillators

The higher lows formed on the daily chart’s relative strength index suggests the potential of a short-term uptick in the Aussie. This would likely coincide with a test of RSI level 60. A bounce from the latter would provide confirmation to the sell signal upon a pullback from the mentioned resistance level.


 


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