AUDUSD dips to key moving averages before bouncing back ...Middle East

The downward move in AUDUSD continued during the Asian-Pacific session, with the price extending into a key swing area between 0.6287 and 0.6301 (see red numbered circles on the chart). Initially, this zone provided some support, but selling pressure persisted.

Currently, the price is attempting to regain ground and move back above the swing area up to 0.6301. If buyers can establish support above this level, the next upside target comes into focus at 0.6326–0.6336.

Buyers looking to take back control.

This article was written by Greg Michalowski at www.forexlive.com.

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