AUDUSD corrects higher and tests MA and retracement levels ahead of the FOMC decision.

The AUDUSD has corrected higher in trading today (after the sharp fall from Monday) and in the process has moved up toward some moving average resistance defined by the 200-hour moving average and the 100-bar moving average on the 4-hour chart. Also in that area is the 50% of the April trading range at 0.65028. That area between 0.6491 to 0.6502 (above and below 0.6500) will be the barometer for more bullish above/more bearish below.

In this video, I speak to the roadmap levels in play to and through the Fed rate decision.

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