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

AUDUSD moves to test swing low area

A.R Chowdhury by A.R Chowdhury
August 21, 2020
Reading Time: 1 min read
0

Swing low area comes in at 0.71319 to 0.71367

The AUDUSD has reversed lower in trading today. 

Swing low area comes in at 0.71319 to 0.71367

The run to the downside started after a brief and unsuccessful break above its 100 hour moving average (blue line in the chart above) at 0.7209.  The inability to move higher turned the buyers from the break above, into sellers on the failure.    The subsequent moves back below the 50% at 0.71915 and the 200 hour moving average (green line) at 0.71839 gave sellers more confidence to push lower. In addition overall dollar buying has helped push the price even lower in the New York session.

The run to the downside has moved to a swing area defined by recent lows ahead of the August extreme low at 0.71083. That area comes between the 0.71319 and 0.71367.  Often times after bottoming (like on August 12), the price action will base ahead of the extreme low levels.  I would expect buyers to lean against the level like they did yesterday with stops on a break below.

Sellers are more in control. However key support should give the sellers pause for cause (at least temporarily) as risk can be defined and limited against the area.

For bank trade ideas, check out eFX Plus

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

It's the S&P's and Dow's turn to make new highs

S&P and NASDAQ index close at record highs

Leave a Reply Cancel reply

Your email address will not be published.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

Recommended Stories

USDCHF trade to new session lows and tests moving average support

May 15, 2020

AUD/USD support and resistance levels ahead

July 28, 2020

USDCAD extends above the 200 hour MA and runs

May 1, 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
  • EURGBP erases gains and returns to a familiar bias defining level

    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
  • What is Leverage AND Margin in Forex trading?

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

    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.