AUDUSD traded to lowest stage since 2020, however bounced. Closing close to 100/200 hour MAs

Within the above video, I check out the technical ranges in play for the AUDUSD heading into the brand new buying and selling week.

For the week, the low on Monday traded to a brand new low going again to 2020, however couldn’t maintain the bearish momentum. The next rise noticed a double prime established on the zero.62457 stage. That stage will must be damaged and keep damaged to extend the bullish bias within the new buying and selling week.

The pair is closing close to the 100 and 200 hour MAs above and under zero.6200.

Subsequent week, momentum away from these MAs will assist outline the bias a minimum of at first of the brand new week. On the draw back, merchants might be watching the zero.6165 to zero.6169. That space is vital on each the every day and the hourly chart. Beneath that, and merchants will look towards the low from the week at zero.61309. Transfer under it and the value is buying and selling on the lowest stage in Four-years. The door opens for extra draw back.

On the topside, the zero.6245 is the primary goal. Get above that and a development above outdated swing highs at zero.6264, 06274 would then have merchants concentrating on the 38.2% of the transfer down from the November excessive at zero.62902.

This text was written by Emma Wang at www.ubaidahsan.com.



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