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AUD/USD bears licking their lips - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD pair was unable to shrug off the bearish momentum seen since the day started.

Key Quotes:

“Failing to maintain the short term gains triggered by the news and diving to new daily lows near the 0.8600 figure”.

“The 1 hour chart shows price was rejected by a strongly bearish 20 SMA while indicators remain in bearish territory, gaining bearish strength”.

“In the 4 hours chart RSI accelerates south approaching 30, momentum stands below 100 and 20 SMA slowly turns south now in the 0.8710 price zone”.

“The downside is now exposed towards 0.8550 price zone, with a break below probably triggering the latest bulls’ stops and favoring a stronger downward acceleration for the upcoming sessions”.

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