The AUDUSD fell sharply yesterday, and that promoting continued within the Asian session right this moment. Nonetheless after reaching right into a key swing space between 0.6445 and 0.6455, momentum slowed, the worth bottomed and a rebound was began.
That transfer has now taken the worth of 0.64913. Simply forward is a damaged 61.8% retracement of the move-up from the October low to the December excessive. That degree comes at 0.64991 (let’s name it 0.6500). Transferring above that degree would have merchants trying towards a swing space close to 0.6523 and the 100-day transferring common of 0.65326.
Conversely, keep beneath the 61.8% retracement, and the bounce is a modest correction of the current run decrease. The sellers would stay in agency management.
