The AUDUSD is trading down and up and back down in trading today.
Within the confined trading range, the pair is finding support and resistance at swing areas that will give traders the clues for price action going forward.
- The lower swing area comes in between 0.65368 to 0.6540.
- The upper swing area comes between 0.65617 to 0.65641.
With the defined areas, traders will be using them as the roadmap for the day and going forward. If the price were to break and stay above 0.6564, the bias would shift to more positive and have traders looking toward the November high at 0.6580 as the next key target. Get above that in hopes the door for Ron toward the October highs near 0.6615.
Conversely a break below 0.65368 would put into play the key 100 day moving average at 0.65318 followed by the rising 100 hour moving averages 0.6521..
