AUD/USD dominated by the bears at the H1 chart
By
Felipe Erazo
PUBLISHED:
27 Feb 2014 @ 16:33
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Comments (4)
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More info about Felipe Erazo
AUD/USD had a week start completely dominated by the strength of the bears, as this pair is in a strong bearish bias.
The AUD/USD has consolidated below the 200 SMA on the H1 chart and now this pair is finding support level 0.8932 sobr eel. If the pair manages to make a breakout at that level, the next target would be the level of 0.8896. On the other hand, if the aussie takes a bullish rebound at current levels and manages to make a breakout on the resistance level of 0.8978, next target would be the resistance level of 0.9014.
The MACD indicator is entering neutral territory and oversold.
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