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AUDUSD downside momentum grows as key levels break

The AUDUSD has experienced increasing downward momentum after breaking below its 200-day moving average of 0.67438 (visible as the top green line on the hourly chart). This momentum intensified after breaching the 50% midpoint of of the week's trading range at 0.67118 and is now testing the 0.6700 level, where the converged 100 and 200-hour moving averages are located (lower blue and green lines). Yesterday, the price found support at the 200-hour moving average before moving sharply higher.With... Read More

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Content Topics

Audusd

Downside

Momentum

Grows

Levels

Break

Forex

Posted: Apr 14 2023, 15:42

Author Name: forexlive

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