Initial focus is on the 100-bar (blue line) and 200-bar (green line) moving averages on the 4-hour chart, currently at 0.6533 and 0.6511, respectively (and both rising). A break and hold below these levels would be an important step toward a deeper decline. Absent that, buyers still retain some control, even as price softens from the highs.
Below that, the next major target is 0.65096, which marks the 38.2% retracement of the move up from the June low. A break below would likely accelerate bearish momentum, exposing the 50% midpoint and last week’s low near 0.64823 (a dual support target for sellers).
Although the AUDUSD pair is lower over recent sessions, sellers still have work to do to take control from the buyers. A move below both the swing area low at 0.6535 and the rising 100-bar MA at 0.6533 would shift the bias more firmly into bearish territory, giving sellers increased control. Absent that, and the sellers are not winning
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about audusd under pressure as key support levels come into view was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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