The AUDUSD is tilting more bearish after falling below its 100-hour and 200-hour moving averages in today's trading. The break below the 100-hour MA (currently near 0.6395), combined with a failure to stay above the previous ceiling near 0.6390, signaled growing downside pressure. That ceiling had previously acted as resistance multiple times, as highlighted by the red circles on the chart.
Now, the pair is also dipping below the 200-hour moving average, currently sitting at 0.6365 (green line). Holding below this level will reinforce a bearish technical bias, especially if momentum builds.
The next downside target comes in near the 0.6326 to 0.6340 zone—a swing area that previously acted as both resistance and support. A clean break below that could see sellers eyeing:
0.6306
0.6283 (100 day MA)
To shift the bias back toward the upside, bulls would need to reclaim the 200-hour MA and push above the key resistance zone around 0.6390 level.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( AUDUSD dipping below 200 hour MA )
Also on site :
- Child star Sophie Nyweide was pregnant when found dead at 24 as cause of death remains under investigation
- New York police to ID woman and child whose remains were discovered near Gilgo Beach
- ‘Bullet Train Explosion’ Review: A Reality-Based Runaway Train Movie That Stays on the Rails