Monday, September 22, 2014

The AUD/USD continues falling

The Australian Dollar is being hurt by the slowdown of the Chinese economy due to the fact that China is the main trading partner of Australia. Besides this, the US Dollar keeps rallying and that is why the AUD/USD has continued with its bearish trend. The pair has so far broken below the 0.8900 level and it could be heading to the 0.8800 level.

However, we must keep in mind that the oscillators like the RSI and the Stochastic are in oversold levels and they may be indicating us that the pair may be getting ready to retrace. None the less, the fundamentals must also change in order for the Aussie to gain some traction.


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