AUDUSD stalls the rally close to the 100 hour MA. Can the patrons push by?

The AUD/USD moved greater in response to a weaker USD, however sellers stepped in close to the falling 100-hour shifting common, pushing the value again down. The decline discovered assist on the excessive of a key swing space, the place patrons leaned in and drove the pair again towards the now-converged 100-hour and 200-hour shifting averages, each presently at zero.6496.

This confluence of resistance has confirmed vital, as the value was rejected at these ranges yesterday and once more right this moment, reinforcing their function as a crucial bullish/bearish barometer. A sustained transfer above these shifting averages would sign a extra bullish outlook, whereas staying under retains the bias bearish.

If the value breaks above the 100-hour and 200-hour shifting averages, the subsequent key goal could be the 100-bar shifting common on the Four-hour chart and the 38.2% retracement of the November vary at zero.6530. A transfer past that degree might set off extra upside momentum.

Conversely, if the pair stays under the shifting averages and breaks under the low of the swing space at zero.64714, sellers are more likely to goal the November lows, which lie between zero.64334 and zero.6442. This leaves merchants intently watching the battle round these key technical ranges for directional clues.

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



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