Failed to Maintain Early Week Rise, AUD/USD Down 100 Pips! - Kakiforex.com - Financial Market Media No. 1 in the World Failed to Maintain Early Week Rise, AUD/USD Down 100 Pips! Failed to Maintain Early Week Rise, AUD/USD Down 100 Pips!
InstaForex

April 21, 2021

Failed to Maintain Early Week Rise, AUD/USD Down 100 Pips!

 Commodity currencies were affected after the fall of major indices on the Wall Streets market gave a signal of risky market sentiment.


The situation has re -strengthened US dollar trading while the Australian dollar failed to maintain its strengthening earlier in the week.


After showing gains in the Asian session yesterday after the minutes of the Australian central bank meeting were published, the price on the AUD/USD chart again made a decline in the European session all the way to the New York session.


Before the price touched the 0.78300 focus level on the resistance zone, the price had made a decline of around 100 pips below the Moving Average 50 (MA50) resistance level on the 1 -hour movement.


Investors are beginning to be wary of early signals of a bearish trend but are still monitoring the development of sentiment and the movement of the US dollar.


Continuing trading on Wednesday, the price moved weakly in the Asian session but a slight decline is likely to head back to the RBS (resistance become support) zone of 0.76500 if the decline continues.



For a lower decline, investors will be prepared to evaluate the price reaction at the support zone 0.75700-0.75300.


If the price manages to make a rise again, the resistance zone 0.78300 will be tested again for the price to continue to record the latest highs.


Beyond that zone, the price is seen heading up to the level of 0.80000 that was reached in last February's trading.