Intraday support also keeps the track to the upside
The AUDUSD is back up testing the ceiling area in the 0.7128-309 area (see yellow area in the chart below). That area is home to swing highs from last week’s trading.
As outlined in an earlier post, on the 5-minute intraday chart, the price moved above a channel trend line and corrected down to the underside of the trend line. That line held support and has been a track for the pair to the upside. Stay above keeps the buyers in full control.