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 trades to a new September low

A.R Chowdhury by A.R Chowdhury
September 16, 2021
Reading Time: 2 mins read
0
AUDUSD trades to a new September low

Trades the lowest level since August 27

The AUDUSD has moved lower as stocks reverse and head to the downside (risk off flows?). 

Trades _the lowest level since August 27

Technically, the price action today saw the pair move up and test its topside trendline and 100 hour moving average (blue line in the chart above) in the early Asian session.  Staying below those levels gave the go-ahead to push the downside from a technical perspective. 

The selling has intensified in the New York session. First, on the overall dollar buying after the better than expected data, and perhaps more recently on “risk off” flows (no win situation?).  

Technically, the price decline took the pair below the 50% of the move up from the August 20 low at 0.72915.  Just below that level is a swing area between 0.7277 and 0.72868 (see red numbered circles and lower yellow area).  

Stay below the 50% retracement would keep the sellers firmly in control. A move above that midpoint level may muddy the waters especially if the lower swing area and up holding support.  Moving below 0.7277 should open up the door for further downside momentum

For now, the sellers are more in control with the next support target to get to and through.  Watch the 50% for close resistance. If the price starts to trademark comfortably above that level, there could be a rotation back to the upside.
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
Broken hearts for gold bulls once again

Broken hearts for gold bulls once again

US stocks trading mixed at the start of the US session

US stocks trading mixed at the start of the US session

Leave a Reply Cancel reply

Your email address will not be published.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

Recommended Stories

GBPUSD looks back toward 100 day MA (and finds support buyers) after the 50% retracement stalls the rally

July 2, 2020

Major indices are opening near unchanged levels

August 4, 2020

Dollar keeps firmer ahead of European morning trade

July 30, 2020

Popular Stories

  • The USD is the strongest and the NZD is the weakest as the NA session begins

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

    0 shares
    Share 0 Tweet 0
  • What is CFD trading?

    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.