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AUD/USD says goodbye long-term support-buddy - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD finally left its long term range, breaking below 0.8640 on the back of dollar strength and gold tumbling.

Key Quotes:

“The pair lost a whopping 180 pips on the day, holding a couple pips above its multi year low”.

“Trading at levels not seen since July 2010, the 1 hour chart shows indicators in extreme oversold levels, looking slightly exhausted yet far from supporting an upward correction, while 20 SMA maintains a strong bearish slope well above current price”.

“In the 4 hours chart technical readings present a healthy and strong bearish momentum that will prevail as long as 0.8640 resistance holds”.

“Australian employment figures to be released upcoming Asian session will bring some volatility to the pair, with a negative reading most likely seeing the bearish run extending pass below 0.85”.

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