The AUDUSD is stretching to a new high and in the process has moved above the 100 and 200 bar MAs on the 4-hour chart between 0.64983 and 0.6509. That is now close support for traders.
The price is testing a swing area between 0.6514 and 0.6518 at the highs and need to break above that area to give the buyers more confidence. A move above that level would then target the 100 day moving average at 0.65325.
The video above outlines the levels in play and explains the risk and the targets.
This article was written by Greg Michalowski at investinglive.com.
