AUDUSD fades the previous day’s bounce from the weekly low.
The AUDUSD pair fails to extend the previous day’s corrective bounce off a one-week low. As well as the 100-Exponential Moving Average (EMA),. In early Thursday trading in Europe. As a result, the risk-barometer pair reflects the market’s cautious sentiment ahead of numerous central bank statements, as well as the impact of China’s vacation.
Furthermore AUDUSD pair’s recent decline might be attributed to its inability to pass the weekly resistance line. Which was at 0.6810 at the time of publication.
However, the quote’s continuous trading Beyond the 100-EMA and 200-EMA. As well as an anticipated bull cross on the MACD indicator, the Aussie pair sellers face a problem.
Aside from the 100-EMA and 200-EMA, which are at 0.6745 and 0.6700, respectively. A horizontal region about 0.6640 that has been noted since June 02 looks to fight. The AUDUSD bears before handing them dominance.
Alternatively, a successful breach of resistance line from Friday, close to 0.6810 at the latest, can set off a run-up towards the monthly high, which is now around 0.6900.
Moreover it should be noticed that a one-week horizontal zone at 0.6840 serves as an additional filter to the north.
| Daily SMA20 | 0.6683 |
| Daily SMA50 | 0.6681 |
| Daily SMA100 | 0.672 |
| Daily SMA200 | 0.6692 |
https://voiceoftraders.com/analysis/audusd-is-picking-up-bids-to-retest-the-intraday-high
