The AUDUSD is racing higher this week with a gain in the pair of 2.96% . The run to the upside now has the pair testing some key levels including the 61.8% of the 2023 range, and the June 2023 high at 0.68899 to 0.68989.
If the price is able to get above – and stay above – those levels, then the buyers are even more in control.
Trends are fast, directional and go farther than traders expect. The run to the upside – especially over the last few days is just that. So although traders may lean here against resistance, if it goes above …..GET OUT.
This article was written by Greg Michalowski at www.forexlive.com. Source