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3 Mar 2015
AUD/USD in neutral on 4 hour sticks - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained the Australian dollar got a nice boost from the RBA during the past Asian session.
Key Quotes:
"The Central Bank, unexpectedly, decided to keep its cash rate unchanged at 2.25%, although authorities remarked that policy easing may still be appropriate in the near future."
"The AUD/USD pair surged up to 0.7842 following the news, finding afterwards buying interest on an approach to the 0.7800 figure."
"The pair retested the highs in the American afternoon, but was unable to rally beyond the strong static resistance level. From a technical point of view, the 1 hour chart shows that the price holds above a strongly bullish 20 SMA currently around 0.7805, whilst the technical indicators maintain their bearish slopes, particularly with the Momentum indicator pressuring the 100 level, which should at least keep the upside limited."
"In the 4 hours chart the technical readings maintain a neutral stance, with the indicators flat around their mid-lines, and the price barely above a bearish 20 SMA."
Key Quotes:
"The Central Bank, unexpectedly, decided to keep its cash rate unchanged at 2.25%, although authorities remarked that policy easing may still be appropriate in the near future."
"The AUD/USD pair surged up to 0.7842 following the news, finding afterwards buying interest on an approach to the 0.7800 figure."
"The pair retested the highs in the American afternoon, but was unable to rally beyond the strong static resistance level. From a technical point of view, the 1 hour chart shows that the price holds above a strongly bullish 20 SMA currently around 0.7805, whilst the technical indicators maintain their bearish slopes, particularly with the Momentum indicator pressuring the 100 level, which should at least keep the upside limited."
"In the 4 hours chart the technical readings maintain a neutral stance, with the indicators flat around their mid-lines, and the price barely above a bearish 20 SMA."