Valeria Bednarik, Chief Analyst at FXStreet, comments that technicals suggest AUD/USD outlook remains bearish in the short-term, expecting the pair to resume its decline one a break of 0.7735 levels.
Key Quotes
“Australian dollar failed to extend its gains overnight, topping against the greenback around the 0.7850 price zone, and bearish in the short term, according to the 1 hour chart that shows price extending below its 20 SMA and indicators crossing their midlines to the downside.”
“In the 4 hours chart price is now pressuring a flat 20 SMA whilst indicators are also crossing their midlines, supporting a steadier decline particularly if 0.7735 gives up.”
Key Quotes
“Australian dollar failed to extend its gains overnight, topping against the greenback around the 0.7850 price zone, and bearish in the short term, according to the 1 hour chart that shows price extending below its 20 SMA and indicators crossing their midlines to the downside.”
“In the 4 hours chart price is now pressuring a flat 20 SMA whilst indicators are also crossing their midlines, supporting a steadier decline particularly if 0.7735 gives up.”
