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20 Oct 2014
AUD and crosses in technical snapshot - TDS
FXStreet (Barcelona) - Analysts at TD Securities gave us a snap shot at the Australian dollar and crosses in a snap shot from a technical point of view.
Key Quotes:
“AUD/USD price action turns choppy but the absence of a major rebound and negative price patterns suggest that risks are skewed to the downside; look for losses to resume below 0.8660 support”.
“AUD/JPY has steadied and recovered significant ground from Thursday low but trend momentum remains negative; unless AUD/JPY can sustain a rally next week, the cross may ease back again”.
AUD/NZD remains trapped in a broad range; support around 1.09 should hold”.
“EURAUD holds above the 55-day MA and ends the week testing bull break-out resistance at 1.46”.
Key Quotes:
“AUD/USD price action turns choppy but the absence of a major rebound and negative price patterns suggest that risks are skewed to the downside; look for losses to resume below 0.8660 support”.
“AUD/JPY has steadied and recovered significant ground from Thursday low but trend momentum remains negative; unless AUD/JPY can sustain a rally next week, the cross may ease back again”.
AUD/NZD remains trapped in a broad range; support around 1.09 should hold”.
“EURAUD holds above the 55-day MA and ends the week testing bull break-out resistance at 1.46”.