Negative Outlook for Aussie - Bednarik

AUD / USD fell to a low 2 weeks from 1.0455 late Wednesday, found support in the EMA-21 before rebounding to 1.0516 before closing movement of the figure was virtually unchanged at 1.0506; flexible comments from Chinese Premier Wen Jiabao on monetary policy also supports the Aussie.

Valeria Bednarik, FXstreet.com Chief Analyst said that if the AUD / USD managed to move up, reinforcement can lead to 1.0535. However, according to Ms. Bednarik that the 4 hour chart, the technical outlook remains bearish with the mobile indicator price fell below the middle and SMA-20 limit the upward movement above the current price: if the price falls back below the 1.0480 figure, the price will probably fall back to 1.0435 low this month.