Buyers in the AUDUSD stall the fall at key floor target. ...Middle East

The AUDUSD hit a new low today, dipping into a key swing area between 0.6334 and 0.6363 on the daily chart. This zone has been significant since November 2023, marked by three distinct lows. The price reached 0.6336, just above the lower boundary of this floor (see red numbered circles on the chart below).Buyers stepped in to halt the decline, leading to a modest recovery. In the rebound, the price briefly surpassed the high of the swing area, reaching a corrective high at 0.63765. Since then, price action has consolidated between 0.6354 and 0.6372, straddling the upper boundary of the swing area at 0.6363.What’s next?For the corrective move to gain traction, the price needs to break and hol

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Buyers in the AUDUSD stall the fall at key floor target. ...Middle East

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