AUDUSD still bearish below the 200 EMA at the H1 chart
By
Felipe Erazo
PUBLISHED:
04 Aug 2014 @ 09:40
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More info about Felipe Erazo
The AUDUSD remains robust in the bearish trend, because this pair is below the 200 SMA on the H1 chart.
The Aussie is trying to consolidate above the daily pivot point level of 0.9308, being the next target the resistance level of 0.9340. On the other hand, if the AUDUSD manages to make a breakout in the support level of 0.9280, is expected to fall to the level of 0.9248.
The MACD indicator is entering neutral territory and in the overbought zone, so the Aussie may continue to fall during the week.
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