The Aussie
tried to break below the 0.9300 level, but as we can see on the daily chart,
the pair was not able to stay below that level and has come back to the upside.
A little bit below that round number level, we can also see the 200 Day
Exponential Moving Average, which has also acted as a very good support level
for the pair. At the moment we can see that the 55 Day Exponential Moving
Average is acting as a resistance and the price may try to stall its rally
around that zone. From this point on all we can do is wait and see if the price
continues going higher and reaches the 0.9400 level or if it comes back to the
0.9300 level to try to break it for a third time.
Australian data yesterday had an effect on that plus 0.93000 is a very strong support
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteI agree with that , waiting is what we have to do. Thanks.
ReplyDeleteThe 200 Day Exponential Moving Average is showing to be a strong support. If it breaks i will go short.
ReplyDeletegreat post this is one of my best pair thank you for great information
ReplyDeleteVery Good analysis.
ReplyDeleteGood analysis, like it.
ReplyDeleteThank you for the info!
ReplyDelete