AUDUSD is turning weaker on the H4 timeframe after being heavily sold from the 0.7250 area.
Price has already broken below both EMA34 and EMA89, showing that bullish momentum is fading quickly. The 0.7150 support zone was also broken rapidly, with the pair now trading near 0.7120.
If price continues holding below EMA34, AUDUSD could extend losses toward 0.7100 and possibly 0.7070.
Technically, EMA34 is starting to slope downward and may soon cross below EMA89 — a signal that the market could be transitioning from consolidation into a deeper correction.
Price has already broken below both EMA34 and EMA89, showing that bullish momentum is fading quickly. The 0.7150 support zone was also broken rapidly, with the pair now trading near 0.7120.
If price continues holding below EMA34, AUDUSD could extend losses toward 0.7100 and possibly 0.7070.
Technically, EMA34 is starting to slope downward and may soon cross below EMA89 — a signal that the market could be transitioning from consolidation into a deeper correction.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.