Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

AUD/USD continues downside track towards 0.7000

A.R Chowdhury by A.R Chowdhury
August 20, 2021
Reading Time: 1 min read
0

AUD/USD down 0.3% on the day at around 0.7120

The aussie is getting no reprieve as we get into European morning trade, extending the downside move this week with the low today touching 0.7116.

The technical breakdown is seeing the downside momentum push further and given prevailing market sentiment, it is tough to see things change ahead of the weekend.

The daily close today will be crucial as it holds implications for the weekly chart:

AUD/USD W1 20-08

The 100-week moving average (red line) is being challenged right now and close/break below that at 0.7136 will only exacerbate the aussie’s woes over the past few days.

The 38.2 retracement level of the swing move higher from March last year to February this year at 0.7052 may offer some form of technical support for buyers moving forward but the 0.7000 handle is the likely key level to watch out for.

That is where sellers are arguably aiming towards right now and is a spot that buyers will have to defend as it is seen as a key psychological level in the trading battlefield.

Invest in yourself. See our forex education hub.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

USDJPY trades above and below its 100 bar moving averages

Delta variant limiting production output

Delta variant limiting production output

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Crude oil futures settle at $38.38

June 16, 2020
AUDUSD trades to the highest level in 34 days

AUDUSD trades to the highest level in 34 days

March 2, 2022

The USDJPY squeezes back to the hourly MAs

May 29, 2020

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • Bitcoin technical analysis, bulls might be giving up soon

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.