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As the trading week comes to a close, the AUDUSD is higher on the week and continues to trade above a key cluster of moving averages, including the 100-hour moving average at 0.7093, the 200-hour moving average at 0.7078, and the 100-bar moving average on the 4-hour chart at 0.7070.Holding above this moving average cluster keeps buyers firmly in control. A move below would begin to tilt the short-term bias to the downside, but sellers would still have additional work to do to fully shift momentum.More specifically, the price would need to break and remain below the early-February lows between 0.7014 and 0.7025. That zone has repeatedly acted as a floor — serving as support this week, last week, and previously on February 9 — making it a key downside control level. A sustained move below that area would strengthen the bearish case materially.On the topside, the February high at 0.7146 came within 11 pips of the February 2023 high at 0.7157. These levels represent the immediate upside targets heading into the new trading week. A break above this resistance zone would open the door for further upside momentum and a broader bullish extension.
This article was written by Greg Michalowski at investinglive.com.
đź’ˇ DMK Insight
AUDUSD is holding above crucial moving averages, and here’s why that matters: With the pair trading above the 100-hour MA at 0.7093 and the 200-hour MA at 0.7078, there’s a bullish sentiment building. This cluster of support suggests that buyers are stepping in, which could lead to further upside. If the price can maintain above these levels, we might see a test of higher resistance levels, potentially around 0.7120 or even 0.7150 in the coming sessions. On the flip side, a drop below 0.7070, where the 100-bar MA on the 4-hour chart sits, could trigger a wave of selling, reversing the current bullish trend. Traders should keep an eye on these key levels as they indicate market sentiment and potential price action. Also, consider the broader context: if the USD continues to weaken due to economic data or geopolitical tensions, that could further support the AUD. Watch for any news that might impact the USD, as it could create volatility in the AUDUSD pair. Overall, the next few days are crucial for establishing whether this bullish momentum can sustain itself or if a reversal is on the horizon.
đź“® Takeaway
Monitor the AUDUSD closely; holding above 0.7093 could lead to a test of 0.7120, while a drop below 0.7070 may signal a bearish reversal.
