AUDUSD has up and down and up day. Test a swing area high.

The AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar Read this Term is mired in an up and down trading day today. The last run is to the upside as equities remain mixed but the S&P and Nasdaq are at least off the lows (but off highs as well). The yields are also off highs with the shorter end of the curve now in negative territory int the US.

Technically, the sellers has their shot below the 100 hour MA (blue line in the chart above) at 0.6949 currently. The inability to stay below that level (and a swing area down to 0.69405 as well), led to a rotation back to the upside over the last few hours. The price is currently in a higher swing area between 0.6973 and 0.69843. That area has been developed over the last four trading days ahead of the extreme reached yesterday up at 0.70186.

The price move back above the 0.7000 level yesterday was the first look above at swing area since August 26 when the high price reached 0.70084 (see daily chart below). That natural resistance level Resistance Level A trading resistance or resistance level reflects a given price that acts as a temporary ceiling for an asset. In its most basic form, this level pressures an asset’s price from rising above it, either acting as an outright barrier or exerting pressure in doing so.This pressure is due to a growing number of sellers who wish to sell at the particular price at a defined resistance level. Resistance levels can either be temporary constructs, longer-lasting ones, or purely psychological. As a result A trading resistance or resistance level reflects a given price that acts as a temporary ceiling for an asset. In its most basic form, this level pressures an asset’s price from rising above it, either acting as an outright barrier or exerting pressure in doing so.This pressure is due to a growing number of sellers who wish to sell at the particular price at a defined resistance level. Resistance levels can either be temporary constructs, longer-lasting ones, or purely psychological. As a result Read this Term would need to be broken and remain broken to give the buyers more confidence. Yesterday the traders tried, but could not hold onto that key natural resistance target level, and buyers turned the sellers.