AUD/USD recovery seems to have run out of steam around bearish 4H 50MA. Trade fears and the resulting risk-off could continue capping upside in AUD. The corrective rally in AUD/USD from 0.7345 (June 21 low) seems to have run out of steam around the downward sloping (bearish) 50-candle moving average (MA) on 4-hour chart likely due to trade fears and the resulting risk aversion in the financial markets. At press time, the currency pair is trading at 0.741 and the downward 50-candle MA on 4-hour is located at 0.745. The fears of US’ trade battles with the rest of the world pushed US stock markets lower on Monday. The Dow Jones Industrial Average (DJIA) closed below the 200-day moving average (MA) for the first time since June 2016 and the VIX index jumped to a high of 19.61 and closed above the psychological level of 15. The risk-off tone in the financial markets could be capping the upside in the AUD and other risk assets. The currency pair may run into offers if risk aversion worsens as indicated by the spike in the VIX index. AUD/USD Technical Levels Resistance: 0.7425 (4H 50MA), 0.7444 (resistance in 4H chart), 0.7473 (May 1 low). Support: 0.74 (5-day MA), 0.7345 (last week’s low), 0.7327 (61.8% Fib R of 2016 low – 2018 high). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Oil markets go tense on Libyan concerns, WTI still under $68 FX Street 3 years AUD/USD recovery seems to have run out of steam around bearish 4H 50MA. Trade fears and the resulting risk-off could continue capping upside in AUD. The corrective rally in AUD/USD from 0.7345 (June 21 low) seems to have run out of steam around the downward sloping (bearish) 50-candle moving average (MA) on 4-hour chart likely due to trade fears and the resulting risk aversion in the financial markets. At press time, the currency pair is trading at 0.741 and the downward 50-candle MA on 4-hour is located at 0.745. The fears of US' trade battles with the rest of the… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
