The AUDUSD fell sharply yesterday, and that selling continued in the Asian session today. However after reaching into a key swing area between 0.6445 and 0.6455, momentum slowed, the price bottomed and a rebound was started.
That move has now taken the price of 0.64912. Just ahead is a broken 61.8% retracement of the move-up from the October low to the December high. That level comes at 0.64992 (let's call it 0.6501). Moving above that level would have traders looking toward a swing area near 0.6524 and the 100-day moving average of 0.65325
That move has now taken the price of 0.64912. Just ahead is a broken 61.8% retracement of the move-up from the October low to the December high. That level comes at 0.64992 (let's call it 0.6501). Moving above that level would have traders looking toward a swing area near 0.6524 and the 100-day moving average of 0.65325