AUSDUSD cracks above the 6120% retracement and swing area between 0.77 and 0.77027
The AUDUSD as a search to the upside over the last 3-4 hours of trading. The move initially broke back above the 50% retracement of the move down from the January 22 high at 0.76724, and the intraday ceiling near 0.7681.
More recently, the price has move back above the 61.8% retracement at 0.76981, and a swing area between 0.7700 and 0.77027.
Intraday, staying above the 61.8% retracement would be the best case scenario for the buyers (a close risk level for them). Stay above keeps the buyers fully in control. Move below we could see some corrective move after the sharp rise higher.
