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9 Feb 2015
AUD/USD: In neutral territory on 4-hr chart - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair traded higher for most of the day after gapping lower at the weekly opening, having recovered from a daily low of 0.7772.
Key Quotes:
"Despite weak Chinese Trade Balance figures and the risk aversion environment, Aussie added almost 90 pips on the day following a tepid recovery in metals."
"During the upcoming Asian session, China will release its monthly inflation figures that will most likely affect the antipodean currency. Chinese inflation has remained subdue near a 5-year low and with depressed oil prices, risk remains to the downside."
"As for the short term in the AUD/USD, the 1 hour chart shows that the price hovers around the 23.6% retracement of this February rally around 0.7820, while the technical picture is slightly bullish as the price develops above its 20 SMA and indicators hold above their mid-lines."
"In the 4 hours chart the technical outlook remains neutral, with the technical indicators laying directionless around their mid-lines."
Key Quotes:
"Despite weak Chinese Trade Balance figures and the risk aversion environment, Aussie added almost 90 pips on the day following a tepid recovery in metals."
"During the upcoming Asian session, China will release its monthly inflation figures that will most likely affect the antipodean currency. Chinese inflation has remained subdue near a 5-year low and with depressed oil prices, risk remains to the downside."
"As for the short term in the AUD/USD, the 1 hour chart shows that the price hovers around the 23.6% retracement of this February rally around 0.7820, while the technical picture is slightly bullish as the price develops above its 20 SMA and indicators hold above their mid-lines."
"In the 4 hours chart the technical outlook remains neutral, with the technical indicators laying directionless around their mid-lines."