AUDUSD prone to “doing it once more” — one other failure on the 100-day MA?

The AUDUSD is as soon as once more flirting with its 100-day transferring common, at present close to zero.62917, and the danger is that historical past repeats. The final two breaks above this key technical degree failed to carry, each stalling at zero.6390 earlier than rotating again decrease. In the present day’s try confirmed even much less momentum, with the excessive reaching simply zero.6340 earlier than sellers leaned in and the pair reversed.

If the pair cannot maintain above the 100-day MA, consideration will shift again towards draw back assist targets. The primary is the 200-hour transferring common at zero.6259, adopted by the 100-hour transferring common at zero.6220. A transfer beneath each would affirm that the current break was one other false begin—and place sellers firmly again in management.

The technical image stays precarious. Patrons have to not simply break the 100-day MA, however maintain momentum above it. With out that, the bias stays bearish and the AUDUSD could be “doing it once more.”

Key ranges:

• Resistance: zero.62917 (100-day MA), zero.6340, zero.6390

• Help: zero.6259 (200-hour MA), zero.6220 (100-hour MA)

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



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