19:34 AUDUSD: The Aussie Declines Four Days in a Row
The pair was down again on Friday and was trading 0.15 percent lower during the London session, hovering at around 0.7225.
Bears managed to push the AUDUSD pair back below the 100-day moving average and the is now testing another stronger zone at around 0.7215. If this level is taken out, further losses toward 0.7150 could occur and the trend could switch back to bearish.
The RSI uptrend line was already broken down and so was the actual price trend line, which suggests that bears might be more active.
On the upside, the resistance is seen at the 100-day moving average near 0.7240 and if not held, the Aussie might accelerate toward the broken trend line, which is currently at 0.7265.
Sentiment seems to remain negative as stocks are dropping again, which might put some bearish pressure on commodity currencies.
Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.
|remaining time till the new event being published|
- German IFO business climate index drops in May
- Eurozone: Flash PMI signals subdued business growth amid stagnant demand
- German private sector maintains modest pace of output growth in May - IHS Markit
- Germany's GDP increased by 0.4% in the first quarter of 2019, as expected