Sellers are making play within the AUDUSD. Can they preserve the momentum to the draw back going?

The AUD/USD is bucking the broader pattern of a weaker U.S. greenback, with the pair shifting decrease (stronger USD). In its decline, the worth has fallen again under a key swing space between zero.6287 and zero.6301, in addition to the 38.2% retracement of the transfer down from the November 25 excessive. This space now acts as resistance, and staying under it might preserve sellers in management.

On the draw back, momentum targets embody:

• zero.6274
• zero.6264
• 200-hour shifting common at zero.6251

The 200-hour MA has been a key technical degree, with the worth shifting above it on January 20 and steadily climbing since. A break again under this shifting common would sign a possible shift in sentiment and open the door for additional draw back.

Merchants ought to monitor the resistance space at zero.6287–zero.6301 and the 200-hour MA for clues on the subsequent directional transfer.

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



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