Forex technical analysis: AUDUSD tests 200 week MA

Forex Market News

forex News / Forex Market News 81 Views comments

200 week MA is available in at zero.7967

The AUDUSD is shifting larger. Helped by gold and valuable metals that are leaping greater.   Gold is up about $19.50 on the day and trades at $1311 - comfortably above the important thing $1300 degree.


The worth is at present buying and selling at zero.7967 (inexperienced line within the chart above). That's proper across the 200 week MA at zero.79673. 

Through the weeks of July 23rd and July 30th, the worth did commerce above that MA degree. It was the first and 2nd seems concerning the MA since Might 2013.  That's a very long time in the past and will have solicited a momentum break and run above.  Nevertheless, the rally stalled and closed again under the important thing MA line by the top of the week. 


Will the third time be the allure this week?

Proper now the check is on. The excessive reached zero.7968. So merchants are leaning towards the extent.  

Nevertheless, ought to there be a break and if there's further momentum, the 200 week MA will turn out to be help as an alternative of resistance.  Key check for the pair.  

Comments