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).
October 21, 2016 EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016 Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016 EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...
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