| High from yesterday eyed. The AUDUSD is up testing the high from yesterday's trading at 0.6717. The high price just reached 0.67149 after breaking back above its 200-day moving average of 0.66907. What next? Moving above the 200-day moving average sets is as a risk-defining level once again. Stay above is more bullish. On the top side, the 100-day moving average at 0.67425 would be the next key target on a break of the high from yesterday at 0.6717. The last time the price traded above its 100-day moving average was back on May 11. |
You Might Also Like
EURUSD technical levels in play for the week starting June 5th
2023-06-02
In this video, Greg Michalowski from Forexlive.com takes a look at the technical levels that will be in play next week and explain why.
NZDUSD moves to the lowest level since November 2022. What next?
2023-05-31
NZDUSD price breaks below the 50% midpoint of the range since the 2022 low.
The NZDUSD yesterday moved down to test the 50% midpoint of the range since the 2022. That level comes in at 0.60242. The low price yesterday reached 0.6024.
Today, the price moved below that 50% level, and it opened the door for further selling. The current prices trading to a new session lower 0.5987.
Risk on a daily chart is a move back above the 50% retracement. Stay below is more bearish.
USDJPY trades closes below 100 hour MA for first time since May 12
2023-05-30
USDJPY below 100 hour MAThe USDJPY has fallen below its 100 hour moving average at 139.949 and close below that level over the last 2 hourly bars. The price of the pair last close below that moving average on May 12. The last cycle low was on May 3 at 133.492. The high price today reached 140.96 before rotating back to the downside. That’s a move of about 743 pips in 18 trading days. Not a bad move.
The price low today reached 139.57. That level happens to be the 50% midpoint of the range since the 2022 high in October (see daily chart below).
With the 100-hour moving average above in the 50% retracement below, the battle is on between the buyers and sellers. If the 50% level is broken, traders would look toward the rising 200-hour moving average 139.133. If the price can get
Tags: Featured,newsletter
