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14 Apr 2015
AUD/USD likely to fall to 0.7500 this week – FXStreet
FXStreet (Barcelona) - Dhwani Mehta, FXStreet Editor and Analyst, sees a high probability of AUD/USD extending lower towards 0.7500 this week as fundamental and China related concerns are set to keep the pair depressed.
Key Quotes
“AUD/USD continues its descent in the short-term downtrend channel, with further room for declines as the daily RSI standing at 41 clinging to the trend line support.”
“In the week ahead, AUD/USD is likely to extend losses and drop to 0.75 barrier given the concerns surrounding China and unfavourable macro fundamentals.”
“The pair finds a strong support at 0.7550 (April 13 Low) levels and selling pressure may intensify below that level dragging the pair to test 0.7500.”
“In case of a failure to breach 0.7550, AUD/USD may rebound sharply and swing back higher for a retest of 0.77 handle and beyond.”
“Overall, a short term downtrend persists in AUD/USD so long as it remains below 0.77.”
Key Quotes
“AUD/USD continues its descent in the short-term downtrend channel, with further room for declines as the daily RSI standing at 41 clinging to the trend line support.”
“In the week ahead, AUD/USD is likely to extend losses and drop to 0.75 barrier given the concerns surrounding China and unfavourable macro fundamentals.”
“The pair finds a strong support at 0.7550 (April 13 Low) levels and selling pressure may intensify below that level dragging the pair to test 0.7500.”
“In case of a failure to breach 0.7550, AUD/USD may rebound sharply and swing back higher for a retest of 0.77 handle and beyond.”
“Overall, a short term downtrend persists in AUD/USD so long as it remains below 0.77.”