Technical Analysis

AUDUSD falls beneath 100 day MA. Inventory slide hurts danger sentiment

Danger off flows as shares sliding in pre-market buying and selling

The US shares are hitting the skids after the Nvidia information. The fear is China’s economic system could also be faltering from the tariffs, however they’ll quietly harm US corporations as properly.  Caterpillar, Intel, and now Nvidia are current examples of corporations blaming China for weaker steerage.  They’ll flip off the spigot whether or not that be from a weaker economic system or altering gaming guidelines internally (which lowers demand for chips).  This week China and US representatives meet.   Nobody is successful.

Technically, the AUDUSDs transfer decrease has simply taken the value again beneath the 100 day MA at zero.71269 (see blue chart beneath). The 38.2% of the transfer up from the Friday low is available in at zero.7154. That stage and the 200 hour MA at zero.71508 are draw back targets now

AUDUSD falls back below the 100 day MA helped by stock weakness

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