The AUD / USD surged after clashing resistance below 0.7800, and began to decline afterwards. From the moment, the pair is trading at around 0.7740 in the flat. After the fall during the Asian session, the U.S. dollar recovered against major currencies. The ‘loser’ among currencies is AUD, according to experts.
During last week the AUD have lost the ground among all currencies. This week brought great losses to the Australian dollar. Weak labor indicators in January 2015 signified feeble economic statistics. There remains an annual forecast on AUD and its quote at 0.70, FBS analysts said (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
Technical Analysis
During the last week of trading AUD fell to all-year lows, reaching 0.7640 mark. However, buyers have responded to it opportunely and held the level. Under the influence of the buyers, the Australian dollar rose to 78. Ichimoku indicators together were directed to the side. Four-hour chart indicates its output into negative territory, evidenced by a Death cross of the Kijun-sen and Tenkan-sen lines.
It is likely that in the near future the struggle will be between 0.7740 and 0.7790. Breakdown of its lower boundary will lead to the market trend fall. Otherwise we can expect recovery to the level of 0.7940, Senkou-Span, FBS experts said.
