AUDUSD floated in lows during Forex market
11/10/2017 2:28:10 PM
The AUDUSD pair floated into negative territory and rapidly recovered from lows and retested the 0.7690-0.7710 area, 150-day EMA supply zone.
Immediate support is fixed near mid-0.7605s and is nearly followed by several month lows support near the 0.7627 area. A follow-over decline could pull the pair below the 0.7605 handle towards its next support near the 0.7583-70 area.
On the upside, the 0.7690-0.7705 area stays immediate strong, which if dominated is probable to cause a short-covering bounce towards 0.7757-65 horizontal persistence.
FOREX market analysis by FxErvin.