AUDUSD reached a new weekly low at around 0.6271 after hitting a weekly high at 0.6491. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• AUDUSD reached a new weekly low at around 0.6271 after hitting a weekly high at 0.6491.
• If the AUDUSD registers a daily close below 0.6300, it could exacerbate a fall towards 0.6209 ahead of testing the YTD low at 0.6169.

The pair currently trades last at 0.629.

The previous day high was 0.6493 while the previous day low was 0.6348. The daily 38.2% Fib levels comes at 0.6403, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6437, expected to provide resistance.

The AUDUSD plummets below the 0.6300 figure and beneath the 20-day Exponential Moving Average (EMA), extending its fall for six consecutive days after failing to crack the 50-day EMA at around 0.6548 since October 27. Hence, the AUDUSD tumbled and is trading at 0.6289, below its opening price by 0.86%, at the time of typing.

After the Federal Reserve hiked rates on Wednesday, the AUDUSD remains downward biased, per the daily chart. The Fed day left a huge 140-pip candle, shy of testing the 50-day EMA, which pierced the 20-day EMA. But it retreated later in remarks by Federal Reserve Chair Jerome Powell, as the AUDUSD slid below the 20-day EMA as sellers gathered momentum.

That said, the AUDUSD is extending its losses and is eyeing the October 21 swing low at 0.6209, which, once cleared, could pave the way toward the YTD low at 0.6169. Nevertheless, if the AUDUSD reclaims 0.6300, it could climb towards the November 3 high at 0.6371, posing a real threat of challenging the psychological 0.6400.

AUDUSD should be aware that the Relative Strength Index (RSI) is below the 50-midline with a bearish slope, suggesting the downtrend would likely continue in the near term.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.629 at the time of writing. Pair opened at 0.6351 and is trading with a change of -0.96 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6343, 50 SMA 0.6554, 100 SMA @ 0.6736 and 200 SMA @ 0.6979.

The previous day high was 0.6493 while the previous day low was 0.6348. The daily 38.2% Fib levels comes at 0.6403, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6437, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.6302, 0.6253, 0.6157
• Pivot resistance is noted at 0.6447, 0.6542, 0.6591

[/s2If]
Join Our Telegram Group