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9 Jan 2015
AUD/USD presents mild negative tone - FXStreet
FXStreet (Bali) - Ahead of Australian retail sales, Valeria Bednarik, Chief Analyst at FXStreet, sees short term technical readings in AUD/USD presenting a mild negative tone.
Key Quotes
"During the upcoming hours, Australia will publish its Retail Sales for November, although Chinese inflation figures will probably be the main market driver during Asian hours, particularly affecting antipodean currencies."
"Expected above previous readings in its monthly and yearly readings, if the final numbers result below forecasts, the Australian dollar will likely ease back towards 0.8032, its recent multiyear low."
"In the short term and according to technical readings, the pair presents a mild negative tone, as per the 1 hour chart showing price pressuring a bullish 20 SMA and indicators heading lower towards their midlines, while in the 4 hours chart, the outlook is neutral, as per 20 SMA flat a few pips below current price and indicators hovering directionless around their midlines. The immediate support comes at 0.8090 and it will take a break below to confirm further intraday declines.
Key Quotes
"During the upcoming hours, Australia will publish its Retail Sales for November, although Chinese inflation figures will probably be the main market driver during Asian hours, particularly affecting antipodean currencies."
"Expected above previous readings in its monthly and yearly readings, if the final numbers result below forecasts, the Australian dollar will likely ease back towards 0.8032, its recent multiyear low."
"In the short term and according to technical readings, the pair presents a mild negative tone, as per the 1 hour chart showing price pressuring a bullish 20 SMA and indicators heading lower towards their midlines, while in the 4 hours chart, the outlook is neutral, as per 20 SMA flat a few pips below current price and indicators hovering directionless around their midlines. The immediate support comes at 0.8090 and it will take a break below to confirm further intraday declines.