AUDUSD Extends Above Near Upper Targets with More Work to Do


AUDUSD above the 100 hour MA

AUDUSD is also seen as a sentiment risk as stocks rise/yields fall. The S&P index is now up almost 3%. The NASDAQ

NASDAQ

The Nasdaq Stock Market or NASDAQ is an American stock exchange. It only tracks the New York Stock Exchange (NYSE) in terms of market capitalization and is part of a network of stock markets and options exchanges. Launched in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it has been known simply as NASDAQ and has become one of the most influential stock exchanges in the world. OTC) trading system. What makes up the NASDAQ? In particular, the exchange also includes the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and the S&P 500 Index, it is one of the three most followed stock market indices in the United States. Overall, the NASDAQ stock market has three different market levels. This includes the capital market, or a stock market for companies with a relatively small market capitalization. Listing requirements for small cap companies are less stringent than for other Nasdaq markets which list larger companies with significantly higher market capitalization. Additionally, the global market is made up of stocks that represent the global Nasdaq market. The Global Market consists of 1,450 stocks that meet stock exchange financial and liquidity requirements and corporate governance standards. Finally, the Global Select Market is a market capitalization-weighted index comprised of 1,200 US and international stocks that represent the Global Select Market Composite.

The Nasdaq Stock Market or NASDAQ is an American stock exchange. It only tracks the New York Stock Exchange (NYSE) in terms of market capitalization and is part of a network of stock markets and options exchanges. Launched in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it has been known simply as NASDAQ and has become one of the most influential stock exchanges in the world. OTC) trading system. What makes up the NASDAQ? In particular, the exchange also includes the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and the S&P 500 Index, it is one of the three most followed stock market indices in the United States. Overall, the NASDAQ stock market has three different market levels. This includes the capital market, or a stock market for companies with a relatively small market capitalization. Listing requirements for small cap companies are less stringent than for other Nasdaq markets which list larger companies with significantly higher market capitalization. Additionally, the global market is made up of stocks that represent the global Nasdaq market. The Global Market consists of 1,450 stocks that meet stock exchange financial and liquidity requirements and corporate governance standards. Finally, the Global Select Market is a market capitalization-weighted index comprised of 1,200 US and international stocks that represent the Global Select Market Composite.
Read this term the index is up 3.58% and the Dow industrial average is up more than 2%.

US 10-year yields are down about 6 basis points to 3.95%.

Looking at the hourly chart of the AUDUSD

AUD/USD

AUD/USD is the currency pair comprising the Australian Commonwealth of Australia Dollar (symbol $, code AUD) and the United States of America Dollar (symbol $, code USD). The pair rate indicates how many US dollars are needed to buy one Australian dollar. For example, when AUD/USD is trading at 0.7500, that means 1 Australian dollar equals 0.75 US dollars. The Australian dollar (AUD) is the fifth most traded currency in the world, while the US dollar (USD) is the most traded currency in the world, resulting in a very liquid pair, with tight spreads, often staying within the spread range from 1 pip to 3 pip. on most forex brokers. AUD/USD Popular Among Different Types of Traders Many traders consider the AUD/USD to be perhaps the most consistent currency pair when it comes to swing trading, as it has often moved in consistent cycles. That said, each pair presents its own challenges. for traders. AUD/USD is very popular with swing traders, with the four-hour timeframe being, at least historically, more reliable than the others. Historically, AUD/USD has been influenced by interest rate differentials, commodity prices, government credit ratings, as well as general sentiment and speculation.

AUD/USD is the currency pair comprising the Commonwealth of Australia’s Australian dollar (symbol $, code AUD) and the United States of America dollar (symbol $, code USD). The pair rate indicates how many US dollars are needed to buy one Australian dollar. For example, when AUD/USD is trading at 0.7500, that means 1 Australian dollar equals 0.75 US dollars. The Australian dollar (AUD) is the fifth most traded currency in the world, while the US dollar (USD) is the most traded currency in the world, resulting in a very liquid pair, with tight spreads, often staying within the spread range from 1 pip to 3 pip. on most forex brokers. AUD/USD Popular Among Different Types of Traders Many traders consider the AUD/USD to be perhaps the most consistent currency pair when it comes to swing trading, as it has often moved in consistent cycles. That said, each pair presents its own challenges. for traders. AUD/USD is very popular with swing traders, with the four-hour timeframe being, at least historically, more reliable than the others. Historically, AUD/USD has been influenced by interest rate differentials, commodity prices, government credit ratings, as well as general sentiment and speculation.
Read this term, the pair rose steadily for most of the trading day, there was resistance in the morning session in London near the 0.6237 – 0.6249 swing zone (see red numbered circles). After traders in the first NA session were able to base the pair on this level, price has since seen an extension move above its 100 hourly moving average at 0.6269 (see the blue line in the chart below). -above).

These are steps in the short-term bullish direction. The near risk for traders looking for more upside is now the 100 hourly moving average (blue line in the chart above).

Although the short-term bias turned higher at the breakout of the 100 hourly moving average, there is still work to be done to increase the bullish bias.

Specifically, breaking above the 38.2% retracement of the decline from the October high to the October low is located at 0.63136. Exceeding this retracement would now be step 1 for a more bullish bias. After that, breaking above the rising 200 hourly moving average at 0.63299 would be the next target.

Move above this level and the swing highs from last week’s trading at 0.63456 would be another target level to hit and through to show buyers’ intentions.

A failure below the 100 hour MA would disappoint buyers. A move below would force traders to retarget the lower swing zone between 0.6237 and 0.62487.

Buyers play. The game depends on stocks and returns, but short-term technicals are also a contributing factor for the pair.


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