Forex technical analysis: A number of currency pairs are testing key MA levels. via ForexLive

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There are some tests at key technical levels

AUDUSD. The correction off the highs fell below the 50% the 200 bar MA (green line), but that break  is failing.  The corrective bottom could be in place. Risk defined against the level

GBPUSD: 100 and 200 hour MA being tested again (blue and green lines). The first look got within 7 pips. This test is right on it. Seller are defending it again, but should see stops on a break.  The price should move away from this area either to the upside or back lower. Risk is limited either way.

USDJPY: Down testing the 200 hour MA (green line). For traders looking at the move higher as a bull trap, get below and stay below this MA is needed to prove it.  For dip buyers, this is a dip.

NZDUSD.  Trying to crack the 100 and 200 hour MA.  Two days ago the price cracked above only to fail yesterday. On the Fed news, the price moved above but quickly retreated. This is the latest effort.

Some tech levels being tested

posted via ForexLive

Posted In: ForexGlobalEconomics
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