Technical Analysis – AUDUSD back below 0.8200, cloud weighs
20 January, 2015
AUDUSD has ended its retracement from 4-year lows. After peaking at 0.8294 last Thursday, the pair has been making lower highs to fall back below the key 0.8200 level.
The market is below the daily Ichimoku cloud which is falling and highlights the underlying bearish trend. The kijun-sen line is just crossing below the tankan-sen and the RSI has dipped back below the 50 line back into bearish territory.
Strong support is seen at 0.8031, the 4-year low hit on January 7. A break below this would target 0.7946 which is the 61.8% Fibonacci level of the upleg from 0.6008 to 1.1078 (2008-2011 rally).
Source link
Related materials
The dollar stabilized today after sliding to a four-month low against the yen in reaction to news of the setback on healthcare reform...
The dollar remained soft in Asian trading today as it came under pressure from falling US Treasury yields following not-so-hawkish speeches by Fed officials on Monday. Chicago Fed President Charles Evans quashed hopes for a faster pace of rate hikes...
EURUSD is currently up for the day and roughly at the level of the six-week high of 1.0782 recorded on Thursday. The RSI indicator is pointing to a bullish short-term bias as it is well above the 50 neutral level at 61...
The euro was one of the top performing major currencies in the Asian session today after being lifted...
The Asian session was an interesting one for both AUD and the NZD...
The US dollar traded in a narrow rage against the yen as investors await the outcome of the Federal Reserve’s two-day policy meeting later today. It is widely expected that the FOMC will announce a rate hike...
EURGBP is being capped by the daily Ichimoku cloud which is acting as very strong resistance. The last time...
GBPUSD touched a 57-month low of 1.4634 on Wednesday but bounced on...
USDJPY consolidated after a sharp rally from 105.19...
Top Brokers offering Forex Market Analysis
Forex Currencies Forecasts
| # | Broker | Review | |
|---|---|---|---|
| 1 |  | Easy Markets | 88% |
| 2 |  | FXTM | 86% |
| 3 |  | FxPro | 83% |
| 4 |  | FIBO Group | 81% |
| 5 |  | HYCM | 74% |
| 6 |  | FXCM | 72% |
| 7 |  | HotForex | 70% |
| 8 |  | Fort Financial Services | 69% |
| 9 |  | FBS | 67% |
| 10 |  | Exness | 66% |
