AUDUSD is stretching higher into resistance

The AUDUSD is pushing to the upside and in the process is back in the swing area between 0.6287 and 0.63016. The price is also testing/breaking the 38.2% of the move down from the November 25 high. That level comes in at 0.6209. If the ceiling is broken, it gives the buyers more control. A move toward 0..6324 and then the 50% at 0.6339.

For sellers, this is the area to hold the line. A failure solidifies the ceiling.

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