Technical Analysis

AUDUSD is back testing the ceiling

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.
AUDUSD has been tracking the trend line...

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