HomeContributorsTechnical AnalysisAUDUSD Returns Below 0.7600, Risks Attack At 200SMA Breakpoint

AUDUSD Returns Below 0.7600, Risks Attack At 200SMA Breakpoint

Fresh weakness back below 0.7600 handle turns near-term focus lower after recovery attempt stalled at 0.7630. Fresh easing was supported by 10/30 SMA’s bear-cross at 0.7630, increasing risk of retesting recent correction low at 0.7541 and possible extension towards plethora of strong supports that lay below and consisting of 200SMA (0.7527), Fibo 38.2% of 0.7158/0.7739 and 55/100SMA SMA’s bull-cross at 0.7508 that mark the lower breakpoint. The notion is supported by lower top left at 0.7630 and signals of extension of corrective phase from 0.7739. However, the pair may extend consolidation within recently established range, ahead of US jobs data that may give more clues about near-term direction.

Res: 0.7606, 0.7630, 0.7648, 0.7680
Sup: 0.7541, 0.7527, 0.7508, 0.7463

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