The AUDUSD moved to the bottom stage since July 14 yesterday and within the course of examined an previous trendline. That trendline was damaged in June as the value moved to the bottom stage since June 1, 2020 (examined that swing space from 2020). The worth has moved again towards the 50% of the vary for the pair for the reason that March 2020 pandemic low. That stage is available in at 0.6756. The excessive worth within the early Asian session did scooted as much as 0.6773, however has since rotated again to the draw back.
Looking on the hourly chart, the run increased off the low yesterday at 0.66984, noticed the value prolong proper as much as the 100 hour shifting common (blue line within the chart beneath) and was additionally close to swing lows from final Thursday and once more on Monday close to 0.6771 (see pink numbered circles on the hourly chart beneath).
Sellers leaned in opposition to the twin ranges, and pushed the value again down. Admittedly, the value motion at this time has been up and down though it stays decrease on the day. As a outcome consumers and sellers are battling it out with a extra bearish bias.
Ultimately with the value stalled in opposition to the 100 hour shifting common, getting above that stage and staying above that stage can be the prerequisite for the consumers to take extra management. A transfer above that stage would look towards the 200 hour shifting common at 0.68088. You have to return to August 30 for the final time the value traded above that 200 hour shifting common.
PS. On August 31 the excessive worth stalled in opposition to that stage and that helped to result in the rotation to the draw back (and the extra bearish bias since that check). So getting above that shifting averages additionally wanted to offer the consumers extra confidence and management.