The AUDUSD in the beginning of the brand new buying and selling day, moved decrease and within the course of fell beneath a twin technical degree outlined by the 100-day MA and a key swing flooring close to 0.6526. The worth low reached all the way down to 0.6507, however the momentum light, and the value began to commerce above and beneath the twin technical ranges. When the US information got here in weaker this morning, the sellers turned to patrons and rotated greater.
The next transfer took the value as much as one other twin technical space outlined by the 50% midpoint of the transfer up from the October low to the December excessive at 0.6570 and the 200-day MA simply above that degree at 0.6574. THe excessive is testing that 200-day MA. A break above would open the door for extra upside momentum.
Conversely, holding resistance right here and the customer and sellers proceed the battle between the twin assist beneath and the twin resistance above.
