AUDUSD dips below swing area support ...Middle East

The latest low reached 0.6325, with the current price near 0.6330, showing limited downside momentum so far. However, if sellers keep the price below 0.6336, a sharper decline could follow.

The rising 100-bar moving average on the 4-hour chart comes in at 0.6306. There is a swing area down to 0.6287 andThe rising 200 bar moving average on the 4-hour chart and 0.6267.

All of those levels are downside targets on increased momentum.

Despite lower yields—10-year Treasury down 10.02 bps to 4.29%—the dollar remains firm against commodity currencies like the AUD, NZD, and CAD, which typically show less sensitivity to falling yields. Today, the dollar is gaining against all three.

This article was written by Greg Michalowski at www.forexlive.com.

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