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22 Apr 2016
AUD/USD: strong bearish slope in momentum - FXStreet
Valeria Bednarik, chief analyst at FXStreet noted that the Aussie bottomed at 0.7732 overnight against the greenback, and the following bounce has been quite shallow.
Key Quotes:
"Intraday technical readings are supporting a break lower, and in the 4 hours chart, the Momentum indicator presents a strong bearish slope well below its 100 level, whilst the RSI has a modest bearish slope within 44, both of them in line with further declines.
The 20 SMA in the mentioned time frame has turned flat around 0.7790, the level to surpass to see the pair recovering its bullish strength."
Key Quotes:
"Intraday technical readings are supporting a break lower, and in the 4 hours chart, the Momentum indicator presents a strong bearish slope well below its 100 level, whilst the RSI has a modest bearish slope within 44, both of them in line with further declines.
The 20 SMA in the mentioned time frame has turned flat around 0.7790, the level to surpass to see the pair recovering its bullish strength."