AUD/USD on the sting as key help ranges come into focus

The modifications are gentle within the new day however the antipodeans are barely lagging within the main currencies house. It is not a lot the greenback however maybe some gentle softness within the yuan can also be weighing. In any case, it’s bringing into focus some key technical ranges for AUD/USD proper now.

Trying to the each day chart above, the pair has been dragged down not too long ago to check its 200-day shifting common (blue line). The important thing degree is seen at zero.6628 at present. Including to that, there’s additionally some help from the September low at zero.6622 close by. That makes for a key help area, which sellers wish to chew via at present.

For now, they’re slowly testing the waters with value motion holding slightly below that forward of European buying and selling.

Maintain a each day break beneath that and there shall be extra momentum for sellers to chase additional draw back motion subsequent week. However hold above and consumers will nonetheless keep within the sport, hoping for a rebound with the greenback having cooled up to now day.

There will not be any direct catalysts for the pair earlier than the weekend. So, the danger temper and bond market shall be key spots to look at in case for any spillover performs. In any other case, it is over to the technicals above to settle the rating proper now.

This text was written by Justin Low at www.ubaidahsan.com.



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