The AUDUSD is pushing to the upside and in the process is back in the swing area between 0.6287 and 0.63016. The price is also testing/breaking the 38.2% of the move down from the November 25 high. That level comes in at 0.6209. If the ceiling is broken, it gives the buyers more control. A move toward 0..6324 and then the 50% at 0.6339.
For sellers, this is the area to hold the line. A failure solidifies the ceiling.
This article was written by Greg Michalowski at www.forexlive.com.
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