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breaking news AUDUSD rebounds towards the 100 hour MA


AUDUSD has broken below the 2022, 2021 and 2020 swing levels

the AUDUSD

AUD/USD

AUD/USD is the currency pair comprising the Australian Commonwealth of Australia Dollar (symbol $, code AUD) and the United States of America Dollar (symbol $, code USD). The pair rate indicates how many US dollars are needed to buy one Australian dollar. For example, when AUD/USD is trading at 0.7500, that means 1 Australian dollar equals 0.75 US dollars. The Australian dollar (AUD) is the fifth most traded currency in the world, while the US dollar (USD) is the most traded currency in the world, resulting in a very liquid pair, with tight spreads, often staying within the spread range from 1 pip to 3 pip. on most forex brokers. AUD/USD Popular Among Different Types of Traders Many traders consider the AUD/USD to be perhaps the most consistent currency pair when it comes to swing trading, as it has often moved in consistent cycles. That said, each pair presents its own challenges. for traders. AUD/USD is very popular with swing traders, with the four-hour timeframe being, at least historically, more reliable than the others. Historically, AUD/USD has been influenced by interest rate differentials, commodity prices, government credit ratings, as well as general sentiment and speculation.

AUD/USD is the currency pair comprising the Australian Commonwealth of Australia Dollar (symbol $, code AUD) and the United States of America Dollar (symbol $, code USD). The pair rate indicates how many US dollars are needed to buy one Australian dollar. For example, when AUD/USD is trading at 0.7500, that means 1 Australian dollar equals 0.75 US dollars. The Australian dollar (AUD) is the fifth most traded currency in the world, while the US dollar (USD) is the most traded currency in the world, resulting in a very liquid pair, with tight spreads, often staying within the spread range from 1 pip to 3 pip. on most forex brokers. AUD/USD Popular Among Different Types of Traders Many traders consider the AUD/USD to be perhaps the most consistent currency pair when it comes to swing trading, as it has often moved in consistent cycles. That said, each pair presents its own challenges. for traders. AUD/USD is very popular with swing traders, with the four-hour timeframe being, at least historically, more reliable than the others. Historically, AUD/USD has been influenced by interest rate differentials, commodity prices, government credit ratings, as well as general sentiment and speculation.
Read this term this week fell below the 2022 low at 0.6966. The price also fell below the 2021 low at 0.6992.

These breakouts of these key levels on the weekly chart above led to a descent to another swing zone between 0.6809 and 0.6832. This area will now be considered a key. resistance level

Resistance level

A trade resistance or resistance level reflects a given price that acts as a temporary cap for an asset. In its most basic form, this level puts pressure on the price of an asset not to exceed it, either by acting as an outright barrier or by exerting pressure. This pressure is due to an increasing number of sellers wanting to sell at the given price at a defined price resistance level. Resistance levels can be either temporary builds, longer lasting builds, or purely psychological. Therefore, several factors can control resistance levels or cause them to change over time. In terms of technical analysis, a simple resistance level can be calculated by drawing a line along the highest highs for the time frame. Resistance notably differs from support levels, which work in the opposite direction. Understanding the Basics of Resistance Levels Resistance levels should not just be flat lines, but can also represent sloping price levels against trend lines. There are both simplistic and advanced ways to calculate resistance levels and this forms the basis of technical analysis. Any asset trader can set their strategies or place stop-loss orders based on resistance levels. A resistance level is the price at which enough traders intend to sell the particular asset, thus exceeding the number of buyers in terms of volume. As soon as the price reaches this potential resistance, the number of sellers increases, preventing the price from rising further. Resistance is present on all timeframes, generally speaking, the longer the timeframe, the more these levels manage to hold.

A trade resistance or resistance level reflects a given price that acts as a temporary cap for an asset. In its most basic form, this level puts pressure on the price of an asset not to exceed it, either by acting as an outright barrier or by exerting pressure. This pressure is due to an increasing number of sellers wanting to sell at the given price at a defined price resistance level. Resistance levels can be either temporary builds, longer lasting builds, or purely psychological. Therefore, several factors can control resistance levels or cause them to change over time. In terms of technical analysis, a simple resistance level can be calculated by drawing a line along the highest highs for the time frame. Resistance notably differs from support levels, which work in the opposite direction. Understanding the Basics of Resistance Levels Resistance levels should not just be flat lines, but can also represent sloping price levels against trend lines. There are both simplistic and advanced ways to calculate resistance levels and this forms the basis of technical analysis. Any asset trader can set their strategies or place stop-loss orders based on resistance levels. A resistance level is the price at which enough traders intend to sell the particular asset, thus exceeding the number of buyers in terms of volume. As soon as the price reaches this potential resistance, the number of sellers increases, preventing the price from rising further. Resistance is present on all timeframes, generally speaking, the longer the timeframe, the more these levels manage to hold.
Read this term on any rally.

This week’s low reached 0.68284 before bouncing off yesterday’s close and trading today.

Looking at the hourly chart below, today’s move higher has brought the pair back above the May 9 lows and above the 38.2% retracement of the move lower from the Wednesday’s high at 0.69143.

The next target comes against the 100 hourly moving average at 0.69281. The high price just hit 0.6922, which is around 6 pips lower than the falling 100 hourly moving average. You would have to break above this level – and stay above this level – to give buyers more confidence.

Remember on Wednesday during the price rise and fall on the CPI data, the price broke above the 100 hourly moving average to fail on this break higher.

breaking news AUDUSD rebounds towards the 100 hour MA

The best case scenario for short-term bulls would be to hold support near the 0.6910 low from Wednesday (perhaps above 0.6900 since the low is near the 38.2% retracement at 0.6914). Staying above this zone would give buyers a springboard for a potential move above the 100 hourly moving average ahead of the week and. A break above would look to Wednesday’s 50% low at 0.69408 as the next target. After that, traders will look to the early this year low at 0.6966 (see weekly chart) followed by the 2021 low at 0.6992.


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