AUDUSD technical outlook: Sellers urgent beneath key MAs

The AUDUSD is displaying a extra bearish tone as value motion dips beneath the 100- and 200-bar MAs on the Four-hour chart, that are clustered between zero.6528 and zero.65399. So long as the pair stays beneath this shifting common resistance zone, sellers retain near-term management.

The channel construction stays intact, and up to date value motion continues to respect that formation. On the draw back, consumers have been displaying up within the zero.6484 to zero.6502 space, a zone that has caught a number of bottoms over the previous few weeks (see crimson numbered circles). There was one transient failed break, however the help has largely held.

A agency transfer beneath zero.6484 would weaken the technical image and open the door towards the subsequent key help close to the channel trendline at zero.6462, adopted by zero.6407

To shift bias extra definitively again in favor of the bulls, value would wish to reclaim the MAs at zero.6528 and zero.6539. Till then, sellers stay favored throughout the broader vary.

This text was written by Emma Wang at investinglive.com.