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AUDUSD steps down to the 50% and swing area and finds support buyers.

AUDUSD steps down to the 50% and swing area and finds support buyers.

The AUDUSD moved to the highest level since August 15 yesterday reaching a high of 0.70629. That move took out the highs from Monday's trade at 0.70185. However after moving back below the high price for Monday, buyers turned to sellers and forced the market through the 100 hour moving average (blue line), and upward sloping trendline.

The subsequent move lower took additional steps including.

  1. Moving below the 200 hour moving average (green line in the chart above)
  2. Mo... Read More
Posted: Jan 19 2023, 15:51
Author Name: forexlive
Views: 110443

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