The AUDUSD has moved above a key swing today & it gives buyers some control into new week.

In trading today, the price of the AUDUSD moved above the 38.2% of the move down from the end of November high at 0.6290 along with the swing area between 0.6287 and 0.63016. The break is more bullish.

Moreover, the price correction in the early US trading today, fell and tested the high of that swing area. Holding that level and swing area (see the red numbered circle on the chart below) keeps the buyer in play, and gives sellers some cause for pause, at least in the short term.

Now there is work to do to take back more control.

Looking at the daily chart below, the old floor going back to the end of 2023 and to December of 2024 is a key target next week that if broken would add to the bullish bias. That area comes between 0.6334 and 0.6363 (see red circles on the chart below).

All is outline in the video above. Be aware. Be prepared.

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