AUDUSD checks vital shifting common, signaling potential development reversal

AUDUSD: The pair fell sharply yesterday amid broad USD power, pushing the worth down to check its 100-day shifting common, now at zero.64259. That degree attracted shopping for curiosity, because it has persistently offered assist since April 14. Whereas the pair bounced modestly, sellers regained management throughout the European and U.S. classes right this moment, sending the worth again towards the rising 100-day MA.

The present worth trades at zero.64317, simply above that key technical degree. The 100-day MA stays a vital barometer—a profitable maintain may spark a bigger rebound, whereas a sustained break beneath would open the door for additional draw back momentum.

Under the 100-day MA, key draw back targets embody:

• zero.6407 – Prior swing degree assist

• zero.63927 – 200-day shifting common

• zero.63719 – June low

• zero.63546 – 38.2% retracement of the April-to-July rally and a key swing degree

A transfer beneath these ranges would incrementally erode bullish sentiment constructed because the April low and shift the technical bias extra firmly in favor of sellers.

Getting beneath the 100 day shifting common can be supportive of the sellers, however the 200 day and 38.2% retracement are equally as essential if the sellers are to take extra management..

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