AUDUSD falls to swing area/100 hour MA

The AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar Read this Term is trading lower, retesting a key support area between 0.6628 and 0.66399. The 100-hour moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term, currently at 0.66386, is also in play. Earlier, the pair broke below the 200-hour moving average at 0.66554, which now serves as a crucial resistance level. Short-term sentiment is bearish, but a move above this level could disappoint traders expecting further declines. The pair is currently trading at 0.6640.

Yesterday, the pair reached lows of 0.66294 and 0.66329 in two separate instances. Buyers stepped in during these dips into the support area. However, as financial markets face turbulence, it remains to be seen if buyers will be as eager to support the pair today. The AUDUSD usually reacts negatively to risk-off sentiment.

Yields in the U.S. are falling sharply, with the 2-year note down 44 basis points at 3.779% and the 10-year yield down 19 basis points at 3.447%. Last week, the two year yield reach a high of 5.085% and the 10 year yield traded just above 4% before rotating to the downside.

European yields are also plummeting, with the German 10-year bund yield dropping 30 basis points to 2.152%. To put this in perspective, the German yield reached a high of 2.77% earlier this month.

The US stocks are working toward the open with the Dow down -570 points. The NASDAQ is down 134.54 points in the S&P is down 65.79 points. In Europe, the German DAX is down -3%. The France's CAC is down -3.6% and the UK's FTSE 100 is down -3.17%.