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Technical view for the AUDUSD: AUDUSD trades to a new session high for the day. What now?

Technical view for the AUDUSD:  AUDUSD trades to a new session high for the day. What now?
The AUDUSD - like the NZDUSD - fell sharply from last week's high. The move lower started to gain momentum after:Breaking to a new high going back to February failedBreaking above the 100-day MA failed (there were multiple failsMomentum below the 100-hour MA increased (on Thursday last week).The momentum continued on Thursday on the break of the 200-day and 200-hour MAs.On Friday, more selling took the price away from the 50% midpoint of the move up from the April 28 low at 0.6695 and the 61.8%... Read More
Posted: May 15 2023, 16:20
Author Name: forexlive
Views: 102493

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