A lot of ups and downs at present.
The AUDUSD has down quite a lot of ups and downs in buying and selling at present.
The value motion took the pair decrease within the early European session solely to seek out assist shopping for simply forward of a decrease development line. That development line (see inexperienced numbered circles) presently is available in at zero.7149 (and shifting greater.
The run again to the highs for the day reached up towards the 200 hour MA (inexperienced line presently at zero.71887) and located sellers. Above that MA sits a downward sloping development line at zero.7193 (and shifting decrease).
In between sits the 100 hour MA at zero.71768. That technical stage is being ignored as merchants as an alternative concentrate on the extremes of the non-trending vary.
Sooner or later, there will probably be a basic/technical push whether or not it’s risk-on or risk-off flows or USD shopping for or promoting. For now, the merchants are simply ready and preserving an eye fixed on the development line (and 200 hour MA) extremes. It will come. There will probably be a break and run at a while quickly.
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