EURUSD slips to 1.0508 and AUDUSD slips under 0.7600 as the buck gets its thing on
Another day of key levels to watch now. EURUSD is looking dicey at 1.0510. It really needs to break the Feb low around 1.0490 for proper confirmation so be wary if a stop run can't take that out. Under there, 1.0455/60 is the next support but there's may be some additionally at 1.0475/80. A break there leaves a lot of empty space until 1.04.
EURUSD H4 chart
AUDUSD could be on for a decent move south if this break is confirmed.
AUDUSD H4 chart
0.7600 was a strong support level and if we hold it we could have some fun. There's still support just under at 0.7575and down to the 0.7540/45 area but that might not match this break.
What is interesting is that there's oodles of support towards the low 0.75 area.
AUDUSD daily chart
We've got;
200 dma 0.7521
38.2 fib of the Dec swing up 0.7517
100 dma 0.7515 & old S&R
55 wma 0.7501
55 dam 0.7493
Prior S&R level 0.7491
At anytime, that's a huge amount of decent tech in a 30 pip range. If you're short, you'll need to think about this area carefully as it might limit your downside. Longs can drool over a low risk technical trade.
