Technical Analysis

AUDUSD rotates back down and toward the support swing area

The high today stalled against a swing area at 0.74095

The AUDUSD as seen a up and now down trading day. The pair is close to the closing level from yesterday.  

The move to the upside was able to extend back above its 100 hour moving average (blue line in the chart above). However, after moving up to test a swing line at 0.74095 (see red numbered circles) and holding against that level, the price has pushed back lower and below the 100 and 200 hour moving averages. 

On the downside, the price is moving back toward the swing area between 0.73406 and 0.73561. That area dissects the upper extreme from lower levels seen before the break higher in early September.

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