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After dramatic falling, The Aussie could gain back a place above 0.70

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 22, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

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    AUDUSD Daily 22-01-2016 07-12-46 ص.jpg
    AUDUSD could get use of the Chinese stocks rebound to extend its rebound from 0.6825 to be trading currently above 0.7000 psychological level containing its total falling of last week.
    After it had been exposed to increasing downside momentum by breaking 0.6903 supporting level which could prop up the pair on last Sep. 4.
    After yesterday rebound, AUDUSD daily Parabolic SAR (step 0.02, maximum 0.2) is now its second day of being below the trading rate reading today 0.6826.
    AUDUSD daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility is having its main line in neutral region but close to the overbought area above 80 reading now 78.490 dragging the signal line out the oversold area below 20 to read now 55.924.

    Important levels: Daily SMA50 @ 0.7155, Daily SMA100 @ 0.7146 and Daily SMA200 @ 0.7360

    S&R:
    S1: 0.6825
    S2: 0.6769
    S3: 0.6527
    R1: 0.7046
    R2: 0.7084
    R3: 0.7120


    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    walid.s@trade-24.com
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