AUDUSD during Forex market trading news
10/23/2017 9:24:35 AM
The AUDUSD pair got some fresh bids near the 0.7805 handle and has achieved to recoil over 26-pips from 1-2 week lows touched earlier.
At present floating around 120-day EMA, near the 0.7833-38 area, the pair's recovery move from Asian session lows could be just attributed to a fair USD pull-back.
Immediate persistence is fixed near 0.7847 area, above which the pair could aim towards clearing 0.7877 supply zone before finally darting towards 80-day EMA hurdle near the 0.7915 area.
On the other hand, 0.7803 handle now appears to have arisen as immediate support, which if broken might turn the pair at risk to speed up the slide towards 0.7773 intermediate support on the way mid-0.7703s.
FOREX market analysis by FxErvin.