• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

Aussie and kiwi run up against key levels against the dollar

Started by forex4you, Feb 20, 2024, 06:25 pm

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

Aussie and kiwi run up against key levels against the dollar

I'll let the charts do the talking here.

In the case of AUD/USD, the pair has been struggling to get past its 100-day moving average (red line) since the start of the month. For today, buyers are not only inching past that but also contesting the 200-day moving average (blue line) at 0.6563 currently. That's a big level on the charts as a push above that will shift the momentum back to the buyers.

The pair has been caught in limbo in the past few weeks, trading in and around the 0.6500 mark. As such, to get a potential technical break will be a welcome one for price action to let loose. Taking that into consideration, keep a close eye on the daily close as that will be the one to vindicate the make or break conviction in the pair next.

As for NZD/USD, the pair briefly touched a five-week high of 0.6179 and is trading just under that now. Of more importance, buyers look to be targeting a potential break of daily resistance around 0.6150-73.

So far, the daily closes in the past month or so have struggled to even get past the 0.6150 mark. And looking at price action in general, there is some consolidation between 0.6050 and 0.6150 mostly.

Thus, a firm break above the technical ceiling highlighted could breathe fresh life into the pair in recovering the January drop.

It all comes down to Wall Street to confirm any follow through in the price action we're getting at the moment.



                This article was written by Justin Low at www.forexlive.com.

Source: Aussie and kiwi run up against key levels against the dollar

forexlive.com
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com