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Decline in gold price weighs on AUD/USD - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that the sudden decline in the price of gold pushed the AUD/USD from a daily high of 0.9333.

Key quotes

"Technically, the hourly chart shows price broke below its 20 SMA as indicators turned lower around their midlines, ready to trigger some bearish signals."

"In the 4 hours chart technical readings indicators turned lower in positive territory, while 20 SMA maintains a strong bullish slope below current price, currently in the 0.9300 price zone."

"A break below it should lead to further slides, eyeing then 0.9260 price zone. "

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