AUD/USD: a reason to use higher timeframes

AUD/USD: a reason to use higher timeframes

2020-10-20 • Updated

AUD/USD goes down. It dropped below the Moving Averages, below the local support of 0.7060 – 0.7070, and now appears to be moving further downwards. To where? That’s what you need higher timeframes for.


On the H4 chart, you see that the last week of September saw the pair drop to 0.7010 – that would be the target for bears if the market finds that October gains need to be erased. Therefore, watch 0.7030 - if it gets crossed, 0.7010 will be the target for bears.


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Worst Awaits Risk Assets in September
Worst Awaits Risk Assets in September

The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.

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