AUDUSD is trading lower as risk-off sentiment drives the pair down, following a decline in U.S. stocks. On Friday, AUDUSD reached a new high of 0.6407, coming within six pips of the 38.2% retracement of the September 2024 downtrend, before reversing lower due to risk-off flows triggered by falling equities.
Today, the NASDAQ initially gained 120 points before sharply reversing lower, hitting a session low of -248 points before bouncing to -165 points in volatile trading. This stock market decline pressured AUDUSD lower, bringing the pair to test its rising 200-hour moving average at 0.6346. Buyers held support on the first test, keeping the level intact.
The 100-hour moving average at 0.6367 now acts as topside resistance. Market participants remain focused on stock market movements, with AUDUSD likely to react accordingly.
Technical Levels:
Support: 0.6346 (200-hour moving average)Resistance: 0.6367 (100-hour moving average)Traders will continue monitoring equity markets for directional cues.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about audusd falling on risk off sentiment price tests 200 hour ma level at 0 6346 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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