| The EURGBP fell to the lowest level since December 2022 this week. The run lower moved into a swing area on the daily chart which has done a good job of defining resistance and support going back in time (to as far as 2021). The holding of that level has given buyers some support to lean against. The price for the pair is higher today. Having said that, drilling into the hourly chart, the price remains below the following 100 hour moving average currently at 0.86176. The 38.2% retracement of the last leg lower is also above at 0.86246. Both those levels would need to be broken if the buyers are to be taken seriously from a technical perspective. Absent that and the sellers remain more control, and the trend remain to the downside |
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Stay tuned for a concise technical analysis of EURUSD, uncovering key levels and insights.
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The AUDUSD corrected higher into the Asian session today, and in the process tested the 100 hour MA. Sellers leaned against the level, and has been trending the pair lower since then.
In the NY session the pair has moved below a swing area between 0.6649 and 0.66526. Stay below is more bearish going forward.
The move lower has looked to approach the March 24 low at 0.6625 in the April 10 low at 0.66186. Move below that area opens the door for further selling potential with March lows at 0.65639, and a swing area between 0.6544 and 0.65847 as the next key target.
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