Saturday , 23 November 2024
Home Forex AUDUSD trades up and down in trading today with swing areas defining support & resistance.
Forex

AUDUSD trades up and down in trading today with swing areas defining support & resistance.

The AUDUSD fell to – and through the 38.2% retracement of the move up from the August low at 0.67146 late yesterday, but bounced higher in the Asian session today. The high price in the Asian session extended up to 0.67417 which was just short of the low of a swing area 0.67429.

The subsequent fall back to the downside helped by CPI and initial jobless claims did see a new low reached at 0.66997. That low was ahead of a swing area between 0.6685 and 0.6696. The 100 day moving averages between those levels as well.

So the up and down price action has defined the range between 0.6685 to 0.67429. Traders will be looking for a break outside of that range.

This article was written by Greg Michalowski at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

CCI Histogram Volume MT5 Indicator

The world of financial markets can feel like a whirlwind of charts,...

Global Market Weekly Recap: November 18 – 22, 2024

Global markets rallied despite heightened Russia-Ukraine tensions, with gold and oil gaining...

FX Weekly Recap: November 18 – 22, 2024

Major currencies saw wild swings as Russia-Ukraine tensions escalated. Safe havens rallied...

Fed: U.S. government fiscal sustainability tops the list of financial system risks

The Fed's twice yearly Financial Stability Report highlights: U.S. government fiscal sustainability...