Aussie lost ground during last sessions
but is trying to recover. Nevertheless the battle for the 0.81 area remains in
force. Today the AUD/USD pair marked daily high at 0.8113 but eased with US
opening and currently is trading at 0.8084.The
slide from the top took place amid the renewed rally of the greenback and the
falling prices of oil and gold.
Technically speaking the short term outlook remains
neutral. On the four hour time frame the price is moving above its 100-day and
200-day SMAs, while the 20-day one keeps flat around 0.8083 and the bulls
fail to conquer it. RSI is located around its mid-line with lack of directional
strength. Stochastic is showing bearish momentum with current location at
43.
To add some gains the AUD/USD pair should first break
the 0.8135 level in order to generate power to test the 0.8200 handle.
The upcoming Asian session will bring
Australia’a December inflation figures which may push Aussie higher in case
they come above expected. From the US side we’ll have President Trump’s speech, the ADP private employment
report is due and then the Federal Reserve will announce its decisions. So
busy Wednesday ahead and it’ll be interesting to observe the pair’s
movement.
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