Home›Forex›Major Pairs›AUDUSD closes below 200-day moving average as dollar b…

AUDUSD closes below 200-day moving average as dollar bid returns

The pair briefly slipped below the 200-day moving average near 0.7022, then sellers regained control and AUDUSD closed below it.

Reported · Written up by our desk · Major Pairs

Forexlive reports the AUDUSD fell sharply this week as demand for the US dollar strengthened, with Fed officials taking a tougher stance and US Treasury yields moving higher. The outlet says the market-implied probability of an October rate hike was around 66% at the time of the update.

The article links the move in the pair to that higher-yield backdrop, noting that elevated US rates can make the dollar more attractive versus other currencies and put pressure on AUDUSD. It also describes a technical deterioration, with AUDUSD breaking below its 100-day moving average on Wednesday and drawing attention to the 200-day moving average near 0.70217.

Forexlive says AUDUSD reached the 200-day moving average early in the Asia-Pacific session, briefly broke below it, and then buyers pushed the pair back up. The recovery stalled, the pair reached a high of 0.70447, and by the end of the day AUDUSD closed below its 200-day moving average.

The outlet adds that the following session brought another test, with AUDUSD falling to 0.7005 in early Asia-Pacific trading.

Today brought another test. The pair fell to 0.7005 in early Asia-Pacific tr

More like this

Sources