FX.co ★ Forexo 007 | AUD/USD

AUDUSD Technical Analysis I am talking about AUD/USD today. The current market price is 0.6492. The broader market headed towards the resistance level when it broke through it this morning, but bottomed out after encountering a small resistance level in the midline, and touched the support level again. If the market price hits a strong support level afterward, the market outlook may return to the support level seen twice before, and a strong resistance will be formed at 0.6522 in the market outlook. This resistance point is very strong for the market which has fallen for two consecutive weeks in the past two weeks. If the market price tries to break it at this point, it will create a new resistance point. Currently, the market price is rising with the support of 0.6460.

Let's see to today's chart prepared in h4 time frame. I used to support and resistance in the chart above. If the market price can touch a very strong resistance point in this time frame, it will successfully establish a new resistance point. The market price has been in a buying state for the past two days, showing an upward trend. If the market price breaks below a support level, it will also change the trend and possibly create a new support level of 0.6482. Moreover, it bottomed out a few days ago, and it is already the second largest in the market. Failure to do so will push the market price higher and break a strong resistance point. In the next few days, we may see the market rise even higher. 50-day simple moving average color Medium Slate Blue: 150-day simple moving average color Dim Gray