The AUDUSD worth motion this week was up and down. The shut from every week in the past was at 0.6558. The present worth is at 0.6562. Not loads of change on the present degree.
Nevertheless, in between, the value moved increased into the election. It moved decrease with the greenback shopping for by means of the election. It transfer sharply increased yesterday and is again decrease to the place the week ended final week.
What are the technicals saying?
The upside into the election took the value at present 50% midpoint of the transfer up from the August low to the September excessive. That degree got here in at 0.66451.
The following transfer to the draw back to the election took the value under the low worth from final week at 0.653572 a low of 0.6511. That was simply in need of a swing low from August 7 and August 8 at 0.6506. The value began its transfer increased.
When the value transfer again above a key cluster of technical ranges together with its
- 100 bar shifting common on a 4-hour chart at 0.66226,
- it is 200 day shifting common and 0.66287, and
- swing space between 0.66189 and 0.66287.
The shopping for momentum elevated with the value shifting towards the 100 day shifting common at 0.66904. The excessive worth for the week reached 0.6688 slightly below that shifting common earlier than beginning to transfer again to the draw back in buying and selling on Friday.
The value on Friday rotated again under the important thing cluster of technical ranges. That cluster between 0.66189 and 0.66287 would be the key barometer going into the brand new buying and selling week. If the value can keep under it (and proper now it’s), the sellers are in management. The technical bias is to the draw back.
The draw back targets embrace prior swing lows at 0.6562, 0.65357 (the low worth from final week), and 0.6506 (lows from August 7 and eight and close to the low for the week.
If the aforementioned cluster of resistance is damaged at 0.66287, I might count on extra shopping for two push the value by means of the 50% midpoint at 0.6645 and make one other run on the 100 day MA at 0.66904. Above that and the 200 bar shifting common on the 4-hour chart and damaged 38.2% is available in at 0.6715.
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AUDUSD Replace
Key Factors
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AUDUSD worth motion: risky, ending close to final week’s shut (0.6558-0.6562).
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Technical ranges:
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Market sentiment: sellers in management under 0.66189-0.66287.
Buying and selling Bias
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Bearish: Sustaining under 0.66189-0.66287.
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Bullish: Breaking above 0.66287.
Key Ranges
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Resistance:
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Help:
Outlook
Watch 0.66189-0.66287 cluster for route; breakdown favors sellers, breakout favors consumers.
