During
the Asian session the AUD/USD pair pushed higher and marked daily high at 0.8042,
but later retreated to lower levels and the
current market price is 0.7975. Of course strong fundamentals influenced as this
drop occurred right after the RBA's monetary policy announcement. The Central
Bank of Australia kept the rates unchanged at 1.5% and meanwhile expressed
solicitudes about the stronger Australian dollar that would press down the
inflation and growth.
Technically speaking on the four-hour time frame the Aussie is showing some
bearish signals. The price has crossed to below its 20-day SMA while the
100-day SMA is keeping slight bullish slope. Stochastic has turned sharply to
south and surpassed its mid-line. RSI is also bearish but is currently located
around 50.
First support is seen at 0.7935 (last week’s low) and in case of breaking it
the pair will be poised to extend its decline towards 0.7875.
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