Support & Resistance Levels For AUD/USD
Skerdian Meta • 1 min read
Yesterday we covered the support and resistance levels for EUR/USD, GBP/USD, USD/JPY and NZD/USD. Most of those levels are still valid today since we haven´t moved much during the last several trading sessions.
But, we left AUD/USD out. We opened a forex signal on this pair last evening, so it´s time to have a look at AUD/USD in order to see where we can find some help if the price moves up and where the obstacles are if the price moves down.
- 0.7495-0.75 – This is the first support level; It was the low overnight and the 50 SMA (yellow) stands right there on the H1 forex chart.
- 0.7475 – This was the low yesterday, so it´s likely it will provide some support if we get there today.
- 0.7450 – This is another strong support.
- 0.7400 – A big round number.
The resistance is stronger than support with all the MAs on top
- 0.7515-25 – It´s been the high today so far and the 100 simple MA (green) is hanging around there, which adds extra strength.
- 0.7550-55 – It was the high on Friday and the 100 smooth MA (red) is getting there soon.
- 0.7580 – The 200 SMA (purple) on the H4 chart has been a very strong support level which turned into resistance once broken. That makes this level a tough nut to crack.
- 0.76 – This is another big level, although not as strong as 0.7580.
These are the closest support and resistance levels. Right now, the 50 SMA at 0.75 is keeping this forex pair afloat, but the price action indicates that the downside is more at risk, which is good for our signal here, so let´s hope this moving average lets go soon.