Blog post

Technical Analysis: 200-bar SMA, monthly support-line keep AUDUSD buyers hopeful

Not only dovish bias of the RBA minutes but doubts over the success of the US-China trade deal, mostly known as phase-one, triggered the AUDUSD pair's latest pullback. Even so, the quote stays well above 200-bar SMA and monthly support line, around 0.6835/30, which keeps the buyers hopeful. In doing so, 0.6900 and the recent high surrounding 0.6940 will become their first say in a case of the pair's U-turn. However, 0.7000 round-figure will be the key to watch afterward.

Meanwhile, a downside break below 0.6830 can quickly fetch the quote to last week's low near 0.6800. In a case where the Bears dominate below 0.6800, 0.6780 and 0.6750 can offer intermediate halts to 0.6700 mark.

Join us on FB and Twitter to stay updated on the latest market events.

Our awards

award1 award2 award3 award4 award5