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AUDUSD tests key 100 day MA at 0.66584

AUDUSD tests key 100 day MA at 0.66584

As the US stocks get hammered with the Nasdaq index now down -3.37% and the S&P down over 2.55%, the AUDUSD is taking on some downside price pressures on "risk-off" sentiment.

Looking at the daily chart, that move has the AUDUSD pair down testing the 100 day MA at 0.6658. The last 6 trading days has seen that MA try to hold support. On Tuesday, the price broke below, but could not sustain momentum and the price rebounded.

A move below the MA would tilt the bias more to the downs... Read More

Posted: Dec 22 2022, 17:50
Author Name: forexlive
Views: 111530

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