AUDUSD had a powerful week, w/the worth reaching the 50% of vary since Dec excessive. What subsequent?

The AUDUSD has had a powerful week to the upside helped by threat on flows and enhancing and shifting technical bias. One of many large strikes was a break above each the 100 and 200-day shifting averages close to 0.6560, after which the 38.2% retracement of the transfer down from the December excessive to the February low at 0.66059.

Right this moment the worth moved up and prolonged via the 50% of the identical buying and selling vary, however discovered keen sellers, and rotated decrease as some merchants could have began to take earnings forward of the weekend.

For the remainder of the day – and going into subsequent week – getting again about that fifty% retracement degree can be wanted to extend the bullish bias. On the draw back, merchants will probably be watching a swing space between 0.6612 and 0.6624 forward of the damaged 38.2% retracement at 0.66059 as assist. Shifting again under these ranges would disappoint the patrons on the break increased and sure shift focus again to the draw back.

On this video, I overview of the shift to the upside, and discover what subsequent intimately.