AUDUSD (4H) faces key hurdle at 0.7065

EURGBP trades near 17-month lows with sellers still in control. Can support hold, or will the bearish trend resume?
XM Group | 1 hari yang lalu

Overview: AUDUSD is encountering strong resistance near one-month highs around 0.7065, which coincides with the 50% Fibonacci retracement of the September-October downswing, stalling the recovery from the October 15 low of 0.6893.

Momentum: Momentum indicators suggest buying pressure is fading, hinting at a pause in the recent advance.

Bullish scenario: As long as support around 0.7035-0.7040 holds, buyers could attempt another test of 0.7065. A break above that level could pave the way towards 0.7105, followed by 0.7135.

Risk: A break below 0.7025, where a key cluster of moving averages is located, would undermine the bullish bias.

XM Group
Tipe: Market Maker
Regulasi: FSA (Seychelles), FSC (British Virgin Islands), CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa), FSC (Mauritius), CMA (Kenya)
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