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31 Dec 2014
AUD/USD rallying overnight to 0.82 handle - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, noted that the Australian dollar advanced against the greenback up to 0.8202.
Key Quotes:
“After news the PBOC lifted the loan-deposit cap on net currency positions and will reduce report frequency to weekly from daily. Banks can now include inter-bank deposits in calculating loan-to-deposit ratios”.
“The Yuan rose by the most in more than six month, benefiting other Asian currencies such as Aussie. The dollar weakness later on the day gave the final push to the pair, albeit sellers surged around the key 0.8200 figure, triggering a small pullback”.
“Technically, the 1 hour chart shows indicators retreating from overbought territory, but price well above a bullish 20 SMA currently around 0.8160. In the 4 hours chart the technical picture is mild bullish, with the price holding above its 20 SMA and indicators above their midlines, albeit losing their upward potential”.
“A steady continuation above the 0.8200 level may see the pair extending up to 0.8270, where the next round of strong selling interest awaits”.
Key Quotes:
“After news the PBOC lifted the loan-deposit cap on net currency positions and will reduce report frequency to weekly from daily. Banks can now include inter-bank deposits in calculating loan-to-deposit ratios”.
“The Yuan rose by the most in more than six month, benefiting other Asian currencies such as Aussie. The dollar weakness later on the day gave the final push to the pair, albeit sellers surged around the key 0.8200 figure, triggering a small pullback”.
“Technically, the 1 hour chart shows indicators retreating from overbought territory, but price well above a bullish 20 SMA currently around 0.8160. In the 4 hours chart the technical picture is mild bullish, with the price holding above its 20 SMA and indicators above their midlines, albeit losing their upward potential”.
“A steady continuation above the 0.8200 level may see the pair extending up to 0.8270, where the next round of strong selling interest awaits”.