Dollar extends gains to start the session

Technical Analysis

Author: Justin Low | audusd

The dollar and yen are continuing to benefit from the risk-off mood

AUD/USD H1 22-05
See here for global coronavirus case data
The greenback is advancing further across the board amid the continued selloff in risk as we begin European morning trade. AUD/USD is down to a session low of 0.6516 now with the dollar also seen rising to session highs against the euro, pound, and loonie as well.

Notably, AUD/USD is continuing to keep a break under its 100-hour MA (red line) with the next key support being at the 200-hour MA (blue line) @ 0.6500.

European stocks are pressured alongside US futures on Hong Kong-China tensions, with the Hang Seng index being down by over 5% adding to the worries so far today.

For AUD/USD, there is also some added support from the 100-day moving average at 0.6495. But break below the region of 0.6495-00 and sellers will seize back control.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose