The AUDUSD opened the week below a swing area between 0.6471 and 0.6479. On Monday the price moved above that area and stayed above it for the rest the week. In trading today, the low price move down to test a low of that swing area but found willing sellers.
The price has since rotated toward the middle of what is the trading range for the week with a high near 0.6544. In the middle is the 100 and 200 hour moving averages between 0.6498 and 0.6508. The price is currently trading between those two moving averages wait for the next shove.
That shove may come from the flash PMI data to be released at 9:45 AM ,. Fd by the Michigan consumer sentiment at 10 AM
This article was written by Greg Michalowski at www.forexlive.com.
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