AUD technicals
The AUDUSD is sharply higher today, up 0.84% on the session, and making a decisive break away from a significant technical confluence of moving averages. The rally has propelled the pair above:
That tight MA cluster had previously acted as a magnet for price and a ceiling during consolidation last week, but today’s move marks a clear shift in momentum. The bullish break opened the door for a retest of the key swing area between 0.6493 and 0.6500, which previously capped multiple tops in May (see red numbered points on chart). Sellers leaned against the high of that area and pushed the price back to the downside.
To the downside, traders will now look at recent tops and bottoms including a high and low from today near 0.6470. Below that level and traders would look toward the cluster of moving averages between 0.6440 and 0.6450.
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