AUDUSD technicals
The AUDUSD rebound found resistance at the 100-hour moving average, which once again proved to be a reliable technical barrier for buyers. After the rejection, price action has turned lower, with the pair now trading below a critical confluence of moving averages.
Specifically, the pair is holding below the 100-bar MA on the 4-hour chart and the 200-hour MA, both clustered around 0.64467 area. Staying below this zone keeps sellers in control, shifting focus to the next downside targets.
Key support levels include:
-
0.6429: Low of swing area
-
0.6423: Upward trendline support
-
0.6407: 200-bar MA on the 4-hour chart.The price of the AUDUSD has not traded below that MA since April 22
A move below these levels would open the door for further bearish momentum. On the upside, reclaiming the 0.6446–0.6447 zone and the 200-day MA and the 100 hour MAs at 0.6451 and 0.6460 respectively, would be needed to neutralize near-term selling pressure.
Key Technical Levels:
-
Resistance: 0.64467 (100-bar MA on 4H & 200-hour MA)
-
Support: 0.6429 (swing low), 0.6423 (trendline), 0.6407 (200-bar MA on 4H)
The bias remains tilted to the downside while price stays below the moving average cluster.
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.
