On the downside, the pair initially found support on Wednesday at the rising 200-hour moving average. However, later that day, the price broke below the 200-hour MA and attempted to hold under it—but ultimately found renewed buyers near a lower swing area between 0.6321 and 0.6344. Both Wednesday’s and Thursday’s lows bounced from that zone, helping to define it as firm support.
Still, AUDUSD remains locked within the broader range that has contained price action since April 15, reflecting indecision and two-way flows. In the video above, I walk through the key technical drivers, highlight the pivotal levels, and outline how traders can build strategies around these boundaries.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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