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.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about audusd technical outlook momentum stalls at 100 hour ma as downside levels come into focus 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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