Filed Under:
Forex pairs in this Article » AUD/USD
FXstreet.com (Barcelona) - According to Technical Markets Strategist William Moore at RBS, "The recent reprieve for the AUD does absolutely nothing technically to suggest that a rally is brewing and it still looks as if there is a sell off coming."

Moreover, "should the market be able to creep another figure higher to the break down level at 1.0342 then it looks an ideal fade level - we foresee plenty of stop losses that are tucked beneath the previous low at 1.0168, which should accelerate this lower to parity and beyond." Moore notes.

"No obvious place exists for stop losses now, however the 10-day MA always works quite well in the AUD. Finally we see latitude for supports at 1.0168 and a dip below parity at 0.9994." he suggests.
comments powered by Disqus