near highs but looking soft


  • The Aussie is poking into fresh September highs, but a descending trendline remains firmly in place off of lower highs, with the 50-day EMA sitting nearby.
  • The mood in the Asia market session is riding high, taking the AUD higher as metals and commodities prices get bolstered by renewed market sentiment, but intrinsic factors for the Aussie remain subdued, leaving the major pair primed for a bearish continuation.
  • Sellers will be looking for a momentum stall near current peaks before rolling over into new short positions.

AUD/USD Chart, 15-Minute

Spot rate 0.7261
Relative change Negligible
High 0.7269
Low 0.7256
   
Trend Bullish
   
Support 1 0.7210 (previous day low)
Support 2 0.7195 (200-hour EMA)
Support 3 0.7141 (current week low)
   
Resistance 1 0.7275 (current weekly high)
Resistance 2 0.7292 (50-day EMA)
Resistance 3 0.7381 (August 21st swing high)

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS



Source link



Leave a Reply

error: Content is protected !!