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AUD/USD Outlook: Weak Hourly Studies Seeing Risk Of Further Easing

Published 09/17/2013, 05:21 AM
Updated 02/21/2017, 08:25 AM

AUS/USD

The Aussie erased Monday’s gains that peaked at 0.9392 and turned in defensive mode, mainly being driven by fundamentals. Dips found footstep just below the 0.9300 support for now, with weak hourly studies seeing risk of further easing, before bulls return to play. On the 4-hour chart, positive tone prevails, however, the price is losing momentum. Also, formation of the RSI/MACD bearish divergence, keeps the downside vulnerable. A Loss of the 55DMA at 0.9232, higher platform at 0.9222, would initial signal of stronger correction. From the other side a break above the key 0.9300/50 resistance zone would open way for further recovery and expose the psychological 0.9500 barrier in the near-term.

Resistance: 0.9333; 0.9353; 0.9392; 0.9430


Support: 0.9284; 0.9265; 0.9232; 0.9222

AUDUSD

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