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19 Feb 2014
Flash: AUD/USD has northerly winds approaching - FXStreet
FXStreet (Guatemala) - Ivan Delgado is the Head of Asian Editors at FXStreet and he explained the most recent price action for AUD/USD and ichimoku readings point at downside pressures likely to be on the rise.
Key Quotes:
“Recent price action and ichimoku readings point at downside pressures likely to be on the rise.at least for a retest of 0.90, which if not holding, should lead to additional losses, reinforcing at the bare minimum the notion of an expanded range environment, with edges at 0.9080-0.8920 and the mid neutral point at 0.90”.
“Around these levels is where ‘the most revealing’ clues will be obtained to gauge future directions in the pair”.
“Any pick up in bullish momentum which may lead to an eventual re-take of the hourly kijun (0.9040ish) should be seen as another attempt to break above the 0.9080, seen as the critical level to control. On the flip side, a break below 0.8920/0.89 should result on sellers exercising greater price control”.
Key Quotes:
“Recent price action and ichimoku readings point at downside pressures likely to be on the rise.at least for a retest of 0.90, which if not holding, should lead to additional losses, reinforcing at the bare minimum the notion of an expanded range environment, with edges at 0.9080-0.8920 and the mid neutral point at 0.90”.
“Around these levels is where ‘the most revealing’ clues will be obtained to gauge future directions in the pair”.
“Any pick up in bullish momentum which may lead to an eventual re-take of the hourly kijun (0.9040ish) should be seen as another attempt to break above the 0.9080, seen as the critical level to control. On the flip side, a break below 0.8920/0.89 should result on sellers exercising greater price control”.