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29 Dec 2014
AUD/USD in a dominant bear trend - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD maintains the flat stance consolidating around the 0.8100 level after having established a year low at 0.8087 last week.
Key Quotes:
“The pair has been trading in a tight 100 pips range last week and will likely remain limited also during the upcoming days, albeit the dominant bearish trend will likely prevail”.
“Short term, the 1 hour chart shows a neutral stance, whilst the 4 hours chart shows the price below a bearish 20 SMA and indicators heading lower below their midlines, supporting the dominant bearish trend”.
Key Quotes:
“The pair has been trading in a tight 100 pips range last week and will likely remain limited also during the upcoming days, albeit the dominant bearish trend will likely prevail”.
“Short term, the 1 hour chart shows a neutral stance, whilst the 4 hours chart shows the price below a bearish 20 SMA and indicators heading lower below their midlines, supporting the dominant bearish trend”.