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AUDUSD makes a new high & moves above swing area in the process. Looks toward retracement
The AUDUSD is displaying a notable upward push, marking fresh highs and surpassing a crucial swing zone situated between 0.63269 and 0.6334. This breakthrough has shifted traders' focus towards the 38.2% retracement level from last week's high, positioned at 0.63467. If the price manages to surpass this level, the next notable resistance lies at a significant confluence of technical factors: The 100 and 200-hour moving averages along with the 50% midpoint of the aforementioned downward move, app...
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Posted: Oct 16 2023, 15:43
Author Name: forexlive
Views: 112279