AUDUSD Technical Analysis:The AUDUSD is retesting a key support swing area on the daily chart between 0.6334 and 0.6363, a zone that was also tested last week.
Absent that, and the sellers are still in firm control, and the price is likely to get below the 0.6364 level and probe lower.
The 200-hour MA acted as strong resistance last Thursday, capping gains and triggering a move lower.Failure to move above these levels will keep sellers firmly in control, reinforcing the bearish bias.
NZDUSD Technical Analysis:The NZDUSD is testing key swing level lows on the daily chart:
0.57397 (November 2022 support)0.5772 (October 27, 2023 support).Hourly Chart Insights:During the Asian session, buyers attempted to regain control, pushing the price above the 100-hour moving average (MA) at 0.5779 and reaching a high of 0.5792. However, momentum faded just short of the next target at 0.5796, and the price reversed lower.
Key Levels to Watch:
To shift the bias higher: The price must move above and stay above the falling 100-hour MA at 0.5775. Beyond that, targets include:0.5796 (next resistance level)Falling 200-hour MA at 0.5806.To reinforce the bearish bias: A move below 0.57397 would open the door for further selling pressure.Conclusion:Sellers remain in control below the 100-hour MA, with 0.57397 as the next major downside target. Buyers need a sustained move above key resistance levels to shift momentum.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( The AUDUSD and NZDUSD sellers remain in control. Test support targets )
Also on site :