The AUD/USD edged higher. In the process, it moved up to retest its 50% midpoint of the fall from the October high at 0.72736.
The AUD/USD edged higher on Friday while moving up to retest its 50% midpoint.
The high price reached was 0.72768. The falling 100-day moving average currently at 0.72847 helped to slow the rise.
Today, the high reached was 0.72765, just below the high from last week. The incapability to push higher gave sellers a reason to reverse the pair back to the downside.
The run lower saw the price move down to the 100 bar moving average on the 4-hour chart at 0.71888. The 200 bar moving average is a little lower at 0.71743. The area between 0.7173 and 0.7187 appears to be a swing area. It is currently testing support on the run to the downside.
Zero spread brokers
A zero-spread forex broker is where the difference between the bid and ask prices starts. Trading fees are usually estimated with a specified commission per transaction the broker sets. Sometimes, the strength of buy and sell orders is in significant demand. It means that the spread or price difference will fall to 0. However, this does not mean that the spread will always be 0 pips.
Zero spread forex brokers mostly require higher minimum deposit requirements.
1. Pepperstone
It is considered one of the largest forex brokers in the world. Pepperstone spreads are changeable and start at just 0 pips on the AUD/USD pair.
2. Tickmill
It is the international broker for financial forex, derivatives, and CFDs, headquartered in London.
3. Blackbull Markets
Founded in 2014 by a forex trader and fintech developer, it is based in New Zealand.
Its below the 0.7172-75 area, which would open the door for additional downside momentum.
Interested in Forex Trading? Read WiBestBroker’s comprehensive Gtradex Review.
COMMENTS