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).
January 18, 2017 Stock markets continued to stabilise
German HICP confirmed at 1.7% y/y, as expected, with prices up 1.0% m/m. The sharp acceleration from just 0.7% y/y in November was mainly due to base effects from lower energy prices and the breakdown showed that prices for heating oil jumped 21.9% y/y in December...
January 18, 2017 Pound Sterling soars on PM May's Brexit speech
The British pound posted strong gains yesterday with the Prime Minister Theresa May outlining her vision for Brexit and the parliamentary approval of the Brexit deal...
January 18, 2017 Sterling remains in the spotlight
The Sterling/Dollar exploded into extreme gains on Tuesday with prices clipping above 1.2400 after Prime Minister Theresa Mayâ€™s optimistic Brexit speech signaled that the United Kingdom was seeking a deal which would satisfy both parties...
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