Home Forex Aussie trades below 100-day SMA for first since May

Aussie trades below 100-day SMA for first since May

by kyngsam

  • AUD/USD has breached key assist for the primary time in 5 months. 
  • The day by day chart indicators point out scope for continued sell-off. 

AUD/USD is buying and selling beneath its 100-day easy shifting common (SMA) for the primary time since Might 18. 

At press time, the pair is buying and selling at 0.7080, representing a 0.16% decline on the day. In the meantime, the 100-day SMA is situated at 0.7096. 

A detailed beneath that SMA assist would validate the bearish view put ahead the day by day chart indicators and will yield deeper declines.

The MACD histogram has crossed right into a bearish territory beneath zero. The below-50 studying on the 14-day relative power index signifies the trail of least resistance is to the draw back. 

Additional, the trendline connecting Sept. 1 and Sept. 16 highs is undamaged. In the meantime, the draw back break of the ascending trendline rising from Sept. 25 and Oct. 7 lows remains to be legitimate. 

Help is situated at 0.7006 (Sept. 25 low), whereas resistance is seen at0.7243 (Oct. 9 excessive). 

Day by day chart

Pattern: Bearish

Technical ranges



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