AUD/USD dropping back to the 0.91 handle
FXstreet.com (London) – AUD/USD startled the bulls for a moment with a spike lower from highs 0.9140 and threatened the 0.91 handle.
AUD/USD remains bid on the handle but is struggling to keep a convincing form there. Strategists at TD Securities “Looking at the charts AUD/USD has some room to rebound toward 0.9200, but the broader fundamental and technical signals still suggest the trend in the coming weeks will still be lower, and we still expect to see sub-0.90 levels”.
The 20 DMA is 0.9327, the 50 DMA is 0.9420 and the 200 DMA is 0.9616. RSI (14) …read more