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The AUDUSD runs higher on Friday but stalls at a key level

The AUDUSD made new cycle lows this week, but bottomed midweek and moved higher on Thursday and Friday. The move back to the upside took the pair back into a "red box" that confined price action for 3-months. The break failed. The buyers returned. However, the run to the upside on Friday ran into resistance against the high of a swing area on the daily chart, and a key retracement level on the hourly chart (the May trading range).So as we head into the new week, there is key resistance on the t... Read More

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Audusd

Runs

Higher

Friday

Stalls

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Forex

Posted: Jun 3 2023, 15:39

Author Name: forexlive

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