| In this analysis, we examine the recent price action of the USD as it continues to move to new lows against major currencies. The ongoing dollar selling pressure has resulted in significant breaks in some of the major currency pairs. Join us as we explore the technical dynamics, support and resistance levels, and market trends driving the USD's decline. |
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The EURUSD stays below the 200 hour MA
AUDUSD lower on the day after squeeze higher post RBA decision yesterday stalls
2023-07-05
In this video, we analyze the recent price action of AUDUSD, which experienced a lower movement following a failed breakout after the RBA decision.
The pair’s upward momentum yesterday faltered as it encountered resistance at the 100-day and 200-day moving averages around the 0.6693 level. Join us as we discuss the significance of this price development and explore the potential implications for AUDUSD going forward.
Gain valuable insights into the role of these key moving averages and the impact they have on the pair’s price movements.
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200 hour moving average, 200 day moving average, and 100 day moving average all tested on the topside. The 100 hour MA (and swing area) stalled the fall.
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2023-06-30
The EURUSD is back in the Red Box and tests the lower swing area
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EURUSD inches above 200 hour MA in early US trading
2023-06-26
The EURUSD is now higher on the day.
The EURUSD had a lid on the upside in the Asian/early European session against its 200-hour MA, and then was pressured in the European session helped by weaker German IFO data. However, the fall has seen a rebound in the early US session and the rise has seen the price move above the 200-hour MA at 1.09145.
The price is not "running" higher, but the bias is tilting more to the upside above that level with the 100-hour MA at 1.0931 as the next upside target for buyers/bulls. The best case scenario for the buyers is to stay above 200-hour MA in the short term, but traders – who are bullish – may also look down to 1.08955.
AUDUSD stepped its way down this week. Technicals led the way lower.
2023-06-23
The AUDUSD is below the 200 day and 100 day MA now. What would ruin the bearish bias now for traders?
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