Technical Analysis

The AUDUSD is mired in a range and looks for a shove

The pair is waffling up and down in trading today

The AUDUSD is mired in a range between 0.6183 on the topside and 0.6111 on the downside. There are three separate lows in the AUDUSD at 0.6111, 0.6112 and 0.6111.  A move below that level would be more bearish intraday with the swing high from Wednesday at 0.60727 and the rising 100 hour MA at 0.60295 as downside targets.

On the topside, the 0.6183 high today (also near highs from March 16) will have traders first looking at the Friday high at 0.61995 (call it 0.6200). Above that, and the 61.8% of the March 2019 rate comes in at 0.62337.  

The pair currently traded near the middle of that range at 0.6150 area.  Buyers and sellers are battling it out, and waiting for a shove.  

ForexLive

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