29 Apr 2014
AUD/USD; Technically heavy - FXStreet
FXStreet (Guatemala) - Ivan Delgado, Head of Asian Editors at FXStreet wrote a bearish picture for AUD/USD.
Key Quotes:
“Last week's Aud CPI-driven fall off 0.9350+ levels suggested bears were taking the control back in the market, further evidence was provided on Monday that indeed sellers are now dominating the chart”.
“Should sellers make further progress by taking out the daily kijun line and clear the 0.92 area, deeper declines towards the top of the daily cloud circa .91/.9120 could be seen as the next target for bears”.
“In order for bulls to upgrade the technical picture, it is necessary that .9325 level (daily tenkan and key horizonttal level) is re-claimed, with .9375 up to .94 the next big layer of supply to be re-taken”.
Key Quotes:
“Last week's Aud CPI-driven fall off 0.9350+ levels suggested bears were taking the control back in the market, further evidence was provided on Monday that indeed sellers are now dominating the chart”.
“Should sellers make further progress by taking out the daily kijun line and clear the 0.92 area, deeper declines towards the top of the daily cloud circa .91/.9120 could be seen as the next target for bears”.
“In order for bulls to upgrade the technical picture, it is necessary that .9325 level (daily tenkan and key horizonttal level) is re-claimed, with .9375 up to .94 the next big layer of supply to be re-taken”.