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The August the low got here in at 0.71057
The AUDUSD fell to a low on Friday of 0.71068. That was simply above the August 20 low of 0.71057.
At present the low might solely get to 0.71116.
So merchants needed to pictures to take out the 2021 low. They could not get to it, nor by means of it.
The present value is buying and selling at 0.71277.
Drilling to the 100 hour MA, though assist is holding, the upside is additionally restricted and the technicals are nonetheless extra damaging. Particularly, the value has remained beneath its 100 hour shifting common since November 16. That shifting common presently is available in at 0.71745 (and shifting decrease). The excessive value right now did transfer above the swing low from Friday’s commerce at 0.71560, however solely to 0.71589 earlier than shifting again to the draw back. Getting above 0.71560 could be the 1st step on a corrective construct to the upside. After that comes the falling 100 hour shifting common at 0.71736, and the falling 200 hour shifting common at 0.72138 (blue and inexperienced strains).
The final time the value traded above its 200 hour shifting common? It’s important to return to November 2 for that milestone.
For sure failure to get above that shifting common, and the sellers are extra management.
Put money into your self. See our foreign exchange training hub.
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