AUD/USD reaches four-year lows; 0.8201 – FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair reached a fresh 4-year low of 0.8200 before bouncing some, quite limited to the upside still.

Key Quotes:

“The pair has been in a bear market for most of the second part of this 2014 but latest decline came with RBA Governor Stevens’ desire of seeing the pair closer to 0.7500 according to his own words".

"During the upcoming Asian session, the Central Bank will release the Minutes of its latest meeting which guarantees intraday volatility for at least a couple hours”.

“Technically, the bearish trend seems firm in place, as the 1 hour chart shows intraday bounces reaching lower highs, while the price remains limited below a bearish 20 SMA and indicators are biased lower in negative territory”.

“In the 4 hours chart 20 SMA also contains the upside, currently around 0.8260, while indicators stand directionless below their midlines”.

“A downward acceleration below 0.8190 should be the first sign of further declines, eyeing a probable approach to the 0.8100 figure if the movement extends”.

“Support levels: 0.8190 0.8145 0.8110. Resistance levels: 0.8225 0.8260 0.8300”.