Market Analysis
AUDUSD midweek: 0.70994 after a 22 pip slide, week of 2026-09-21
AUDUSD sits at 0.70994 on Wednesday, down 22 pips from Monday's open, with the week's range capped at 0.71399 and floored at 0.70920.
3 min readBitcoin closed Wednesday's session at 61239.54, down 2012.33 points or 3.2% from Monday's opening print of 63251.87. The cryptocurrency has traced a range between 64120.11 and 60700.79 so far this week, with sellers gaining momentum through Tuesday's sharp decline.
Tuesday's 1,356-point drop coincided with broader risk-off sentiment as tech stocks reversed lower according to ForexLive's Americas wrap. The move accelerated through the 62,000 handle, finding a floor near 60,700 before stabilizing in Wednesday's narrower range.
With no major crypto-specific catalysts on the calendar for Thursday and Friday, Bitcoin's price action will likely track broader market risk sentiment. If equity markets stabilize, the 62,000 level becomes the obvious resistance to reclaim. If risk-off continues, the psychological 60,000 mark comes into focus as the next test lower.
LHFX client positioning shows 53.9% of traders are long versus 46.1% short as of Wednesday morning. This relatively balanced skew suggests the market lacks strong directional conviction at current levels, with participants waiting for clearer signals before committing to either side.
The 61,000 round number sits directly beneath current trading, having provided a floor during Wednesday's early dip to 60998. If this level holds through the back half of the week, buyers could attempt to push back toward 62,000. A decisive break lower would put Tuesday's 60,700 low back in play. Trade Bitcoin's next move with LHFX.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
