{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/audusd-is-having-a-good-start-to-the-wee\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/audusd-is-having-a-good-start-to-the-wee\/","headline":"AUDUSD Is Having a Good Start to the Wee","name":"AUDUSD Is Having a Good Start to the Wee","description":"Price action in the AUDUSD market has rebounded off the technical support level at the 0.6600 mark. This seems to be due to investors adopting a cautious mood ahead of the important US PCE data. Yhe week seems packed with some other fundamentals that may introduce significant intrigue into the market. Nevertheless, let’s see what’s […]","datePublished":"2024-05-27","dateModified":"2024-05-27","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\/2024\/04\/aud.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/04\/aud.jpg","height":320,"width":612},"url":"https:\/\/forexschoolonline.com\/audusd-is-having-a-good-start-to-the-wee\/","about":["AUD\/USD","Forex","FX Technical Analysis","Price Action Charts in Focus","Technical Analysis"],"wordCount":295,"keywords":["AUDUSD","Forex","Technical Analysis"],"articleBody":"Price action in the AUDUSD market has rebounded off the technical support level at the 0.6600 mark. This seems to be due to investors adopting a cautious mood ahead of the important US PCE data. Yhe week seems packed with some other fundamentals that may introduce significant intrigue into the market. Nevertheless, let’s see what’s in it for now.Key Price Levels:Resistance Levels: 0.6700, 0.6800, and 0.6900Support Levels: 0.6600, 0.6500, and 0.6400 AUDUSD Looks Well Positioned for Some Upside MoveThe first session of the new week in the AUDUSD market has bounced off the psychological support level at the 0.6600 mark. The last price candle can be seen popping through the Exponential Moving Average (EMA) curve. As a result, the pair now trades above the 21-day EMA curve.Meanwhile, the applied Stochastic Relative Strength Index (SRSI) indicator lines have delivered a crossover in the oversold region. This aligns well with the movement of the price above the EMA curve, suggesting that traders might consider bullish Forex signals at this point.AUDUSD Market Seems Ready to Keep Marching NorthwardsThe AUDUSD 4-hour market can be seen trying to stay on an upward path, even though the last price candle has appeared bearish. The mentioned price candle can be seen appearing above the previous one. Also, the session continues above the EMA lines.Meanwhile, the SRSI indicator lines can be seen converging in the overbought region, but they still retain an upward trajectory. This hints that any resulting crossover may be a bullish one. Coupled with the fact that investors are somewhat cautious in the USD market, this may assist AUDUSD in printing some profits towards the 0.6680 mark in the meantime.Do you want to take your trading to the next level? Join the best platform for that here."}