AUDUSD trades in a narrow up and down trading range today
The AUDUSD
AUD/USD
The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar (USD) is the world’s most traded currency, resulting in a very liquid pair, with tight spreads, often staying within the 1 pip to 3 pip spread range on most forex brokers. AUD/USD Popular Among Various Types of TradersA lot of traders consider the AUD/USD to perhaps be the most consistent currency pair with respect to swing trading, as it has often moved in steadfast cycles.Having said that, every pair presents its own challenges for traders.The AUD/USD is very popular with swing traders, with the four-hour timeframe being, historically at least, more dependable than others. Historically the AUD/USD is influenced by interest rate differentials, commodity prices, government credit ratings, and overall sentiment and speculation.
The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar (USD) is the world’s most traded currency, resulting in a very liquid pair, with tight spreads, often staying within the 1 pip to 3 pip spread range on most forex brokers. AUD/USD Popular Among Various Types of TradersA lot of traders consider the AUD/USD to perhaps be the most consistent currency pair with respect to swing trading, as it has often moved in steadfast cycles.Having said that, every pair presents its own challenges for traders.The AUD/USD is very popular with swing traders, with the four-hour timeframe being, historically at least, more dependable than others. Historically the AUD/USD is influenced by interest rate differentials, commodity prices, government credit ratings, and overall sentiment and speculation. Read this Term has been taking tiny steps to new lows this week. Looking at the hourly chart, the pair moved to a new 2022 low toward the end of the week last week. On Monday a new low was made at 0.6274. On Tuesday, that low was extended to 0.62467. Today a new low was made at 0.62363. Little steps but still lower levels as sellers remain in control.
The price currently trades at 0.6260.
Looking at the hourly chart, the pair remains comfortably below falling 100 hour moving average currently at 0.63310. Getting above the low from Mondays trade at 0.62744 followed by a move above the natural resistance at 0.6300 level would probably be the first step for recovery. The high price today reached 0.6288 so far in what has been up and down trading day in a relatively narrow trading range of 52 pips (the average over the last month of trading is around 100 pips).
Buyers still need to prove they belong in this game.
Ultimately, it would take not only a move above the 100 hour moving average, but also a move above the 38.2% retracement of the move down from last week’s high near 0.63548. That is also near the September 28 low price of 0.6363. Moving above those levels would open the door for a potential run toward the 200 hour moving average currently at 0.6484 and moving lower.
The Cash Movement Index Multi-Timeframe (MFI_MTF) Indicator for MetaTrader 5 calculates and scans the Cash Movement Index (MFI) on all 21 commonplace MT5...
Ethereum has surged to multi-year highs round $4,700, marking its strongest degree since November 2021 and placing it inside hanging distance of its all-time excessive close to $4,860. The rally has positioned ETH...
In current days, consumers within the crypto market aimed to push costs to new all-time highs. That try has failed for now. For Bitcoin, a double peak is forming, which doesn't affirm an...
