{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/audusd-is-attempting-to-reclaim-lost-support-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/audusd-is-attempting-to-reclaim-lost-support-level\/","headline":"AUDUSD Is Attempting to Reclaim Lost Support Level","name":"AUDUSD Is Attempting to Reclaim Lost Support Level","description":"On Wednesday last week, price action retraced steeply downward after testing the resistance near the 0.6797 price mark. Subsequently, price action also poked through the support at 0.6653. However, buyers are now attempting to reclaim 0.6753. Major Price Levels: Resistance Levels: 0.6641, 0.6671, and 0.6695 Support Levels: 0.6638, 0.6628, and 0.6608 AUDUSD Is Trying to […]","datePublished":"2023-05-16","dateModified":"2023-05-16","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/06\/Australia-2.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/06\/Australia-2.jpg","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/audusd-is-attempting-to-reclaim-lost-support-level\/","about":["Article","AUD\/USD","FX Technical Analysis","Trading strategy"],"wordCount":255,"keywords":["AUD\/USD","Forex","Technical Analysis"],"articleBody":"On Wednesday last week, price action retraced steeply downward after testing the resistance near the 0.6797 price mark. Subsequently, price action also poked through the support at 0.6653. However, buyers are now attempting to reclaim 0.6753.Major Price Levels:Resistance Levels: 0.6641, 0.6671, and 0.6695Support Levels: 0.6638, 0.6628, and 0.6608AUDUSD Is Trying to Resist Downward Forces Under the 0.6653 Price MarkAs soon as trading activities began for the new week, buyers began to offer some resistance to price downward retracements in the AUDUSD market. On the daily chart, price action has fallen below the 9-day moving Moving Average curve (MA), which indicates a downtrend in this market. However, the last price candle here is a green one, which portrays the effort of buying traders. Meanwhile, the Stochastic Relative Strength index (RSI) indicator and the Moving Average Convergence Divergence indicator (MACD) are indicating the same downtrend in this market. This suggests that the resistance offered by buyers may be too weak at this point.AUDUSD Price May Break the Resistance at 0.6654 Price MarkOn the AUDUSD 4-hour market, it could be seen that price action sits above the 9-day MA. Which suggests a possible upside retracement. Likewise, the MACD curves, while below the equilibrium point, have delivered a bullish crossover. Meanwhile, the Stochastic RSI indicator lines keep rising upwards following a bullish crossover above the 60 levels of the indicator. Considering these, traders can anticipate an upside retracement, which may bring prices toward the 0.6670 price level.Do you want to take your trading to the next level? Join the best platform for that here."}