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Sellers in the AUDUSD take back control after the run higher on better China data fails

The AUDUSD moved higher in the Asian session helped by better China data including GDP and industrial production. The move to the upside took the price above its 200 hour moving average 0.63682, and saw the pair extend above a swing area between 0.6379 and 0.6387 (the high price reached 0.63928). However, the momentum could not be sustained and buyers turned to sellers on the break back below the swing area down to 0.6379).In the early US session, the price was able to extend back below its 200-... Read More

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Sellers

Audusd

Take

Back

Control

After

Higher

Better

China

Forex

Posted: Oct 18 2023, 13:31

Author Name: forexlive

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