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16 Dec 2013
AUD/USD subdued at 0.8940 front
FXstreet.com (Chicago) - AUD/USD prints choppy trading on hourly charts and yet long-term charts confirm a strong bearish sentiment ahead of Wednesday’s decision by the Fed.
Potential data-driven price action
Later tonight, the CB leading indicator is due in Australia along with the RBA assistant Governor Debelle speech, RBA minutes and new motor vehicle sales.
AUD/USD Technical Levels
Technically speaking, the pair extends the bearish channel that originated last October 27th and stays subdued to downward pressure. Held on by the immediate support, also last September 1st lows, the pair is offered at 0.8942 and oscillates between the supports aligned at 0.8918 (September 20th lows), 0.8840 (August 4th lows) ahead of 0.8789 (December 12th lows) and the resistances set at 0.8974 (December 5th lows), 0.9031 (December 11th lows) followed by 0.9132 (December 7th highs). Long term charts indicate the confirmation of a bearish sentiment that’s spread across market participants ahead of the Fed’s monetary decision announcement this incoming Wednesday.
Potential data-driven price action
Later tonight, the CB leading indicator is due in Australia along with the RBA assistant Governor Debelle speech, RBA minutes and new motor vehicle sales.
AUD/USD Technical Levels
Technically speaking, the pair extends the bearish channel that originated last October 27th and stays subdued to downward pressure. Held on by the immediate support, also last September 1st lows, the pair is offered at 0.8942 and oscillates between the supports aligned at 0.8918 (September 20th lows), 0.8840 (August 4th lows) ahead of 0.8789 (December 12th lows) and the resistances set at 0.8974 (December 5th lows), 0.9031 (December 11th lows) followed by 0.9132 (December 7th highs). Long term charts indicate the confirmation of a bearish sentiment that’s spread across market participants ahead of the Fed’s monetary decision announcement this incoming Wednesday.