AUD/USD: Bearish Momentum Persists - Key Support in Focus
Alright traders, let’s break down this AUD/USD 2-hour chart and get into the market structure.
We see the pair has been in a downtrend, evident from the series of lower highs and lower lows. The price is currently trading below both the 21 EMA (yellow) and the 200-day moving average (blue), reinforcing bearish momentum. Notice how the price respected the 21 EMA as resistance after a brief rally, which confirms sellers are still in control. The recent rejection at the 0.65401 level (marked "4 hr sell") and the subsequent drop below the 21 EMA signal a potential continuation of this downtrend.
Key levels to watch: Immediate support sits around 0.65138. If this level breaks, we could see a move towards 0.64796, the next significant support. On the flip side, a push above 0.65401 could indicate a shift in sentiment, but I’d stay cautious until we see a strong close above the 200-day moving average at 0.65930.
We see the pair has been in a downtrend, evident from the series of lower highs and lower lows. The price is currently trading below both the 21 EMA (yellow) and the 200-day moving average (blue), reinforcing bearish momentum. Notice how the price respected the 21 EMA as resistance after a brief rally, which confirms sellers are still in control. The recent rejection at the 0.65401 level (marked "4 hr sell") and the subsequent drop below the 21 EMA signal a potential continuation of this downtrend.
Key levels to watch: Immediate support sits around 0.65138. If this level breaks, we could see a move towards 0.64796, the next significant support. On the flip side, a push above 0.65401 could indicate a shift in sentiment, but I’d stay cautious until we see a strong close above the 200-day moving average at 0.65930.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.