AUDUSD runs as much as key every day transferring common. Key degree at 200 day MA st zero.6691

The AUDUSD is transferring larger in the present day and technically made some constructive strides

Earlier in the present day, the worth moved above its 200-day transferring common close to zero.66284. It additionally moved above a swing space close to that degree (see inexperienced numbered circles on the chart above). That break turned sellers into patrons. You may see it extra clearly on the hourly chart the place they worth primarily based close to that transferring common earlier than transferring to the upside with improve momentum of the previous couple of hours of buying and selling.

The value has now stretched up towards one other swing space between zero.6685 and zero.6696. The 200 day transferring common can be inside that space and zero.6691. Again on October 22, the worth final examined that transferring common earlier than transferring decrease. That is the primary retest since that take a look at. That ought to make this space a tricky degree to get by way of (a minimum of on the primary look).

If sellers do lean in opposition to the world and push the worth decrease, watch the zero.66578 degree and zero.6645 (50%) as assist targets on the draw back.

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



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