The currency pair AUD / USD, as had been expected, yesterday was in the area of correction. The trading range was about 79 points. At the same time Low down to a minimum - 0.8153, while the High level went up, reaching a maximum - 0.8233. "Today we expect a correction in prices and do not enter the market," - noted Forex Trend analysts.
Ozzy had fallen against the US dollar amid Bloomberg reports that the ECB is considering a purchase of assets in the amount of 50 billion euros per month until the end of 2016. Meanwhile, the Bank of Canada lowered the rate to 0.75%, while gold rollback to the level of 1. 284. 80. Today, January 22, 2015, AUD / USD rallied from 0.8165 to daily highs near 0.8230, but investors began to sell the Aussie after there were rumors of the ECB and amid falling gold prices. Ozzy continues to collapse against the US dollar, having lost two hours for more than 130 points and fell from 0.8230 to 0.8100 by week low. Now AUD / USD is trading around 0.8103 - 0.88% from the opening price, noting the daily maximum and minimum at 0.8236 - 0.8096. The index shows a slight "bearish" trend, and the index of OB / OS reflects a neutral attitude on the hourly charts. In the case of consolidation under 0.8100, the pair found support at 0.8070 and 0.8050. Resistance noted at 0.8150, 0.8180 and 0.8230.
Technical Analysis
AUD / USD is ready to continue the correction. Price is trading at Ichimoku cloud and at moving averages EMA (50 and 100), indicating corrective market conditions. MACD averages, as well as OsMA pulses, are at zero, indicating a weak market activity and heralding its correction. Significant levels: Buy - 0.8277; 0.8329; Sell - 0.8226; 0.8172. Objectives: a correction. The market is saturated with important economic news. We enter it gently, using MM. "There is a possibility of expanding the spread" - said Forex Trend experts (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
