ICM Technical Analysis : AUD/USD 10 March 2020

10 March 2020 Analysis (Forex, CFDs, Cryptocurrency)AUD/USDCurrency Pairs

IC Markets : Technical Analysis AUDUSD 10 March 2020 - TF240 IC Markets : Technical Analysis AUDUSD 10 March 2020 - TF1W TF1D

ICM Technical Analysis : AUDUSD – 10 March 2020

AUD/USD regained poise after a hefty decline in early trade Monday, what some analysts are labelling a ‘flash crash’. The move came within touching distance of 0.63 before rotating to the upside and testing February’s opening level at 0.6683, a daily range of more than 350 points. As of current price, traders seek ground beneath 0.66, with eyes likely fixed on 0.65.

On a wider perspective, weekly action stabbed support at 0.6359 and retested resistance at 0.6677, which is also visible resistance on the daily scale. Support on the daily timeframe, nonetheless, is seen around 0.6301.

Areas of consideration:

The blend of February’s opening level at 0.6683 and weekly resistance at 0.6677 was a noted area in Monday’s technical briefing. With the H4 candles searching lower levels south of 0.66, traders short 0.6683/0.6677 are likely looking to reduce risk to breakeven, with the expectation of further gains to 0.65.

Disclaimer: The information contained in this material is intended for general advice only.



5 Popular Forex Brokers
Forex Auto Rebate / Cashback

All Likerebateforex members will receive the special discount or highest rebate rate 95% of our commissions. (Free! No additional conditions, fees and deals restrictions)

Forex Brokers

Direct special discount

Highest rebate rate 95%