AUDUSD trades to new session highs into the London fixing

AUDUSD 200 hour MA and pattern line goal at zero.71702

The AUDUSD is buying and selling at new session highs and within the course of is testing (now breaking) its 200 hour shifting common at zero.71702. A downward sloping trendline additionally reduce throughout at that degree.  The following upside goal comes towards the 50% retracement of the vary since August 7 at zero.71754.  Strikes above all three targets would tilt the bias extra to the upside.

AUDUSD 200 hour MA and trend line target at 0.71702

It’s approaching the 11 AM/four PM GMT London fixing. That could be contributing to the run to the upside as positions are adjusted going into the weekend. Nonetheless, the consumers are making a play from a technical perspective.  Nonetheless a transfer above the 50% retracement must be made to solidify the transfer and the bias tilt again to the upside.

The highs this week got here in on Tuesday at zero.71886. Yesterday’s excessive reached zero.7187 simply in need of that top and reversed decrease as sellers leaned towards the extent.

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