AUDUSD breaks higher but upside move is fading

The AUDUSD followed the trend in the US dollar to the downside, but Azucena reversal over the last few minutes. Technically the price moved above its 100-hour moving average of 0.65975. It also moved above a swing area between 0.6595 and 0.6603. The high price reached 0.6607 but has since rotated back to the downside and trades below the 100-hour moving average and swing area at 0.6584 currently. Ultimately, it would take a move above the 100-hour moving average and the swing area up to 0.66032 increases the bullish bias. Absent that, and the sellers are still winning.

This article was written by Greg Michalowski at Source