AUDUSD moves toward the neutral technical area

The AUDUSD has traded to a new low and in the process has moved to the high of a neutral area with the:

  • 200-hour moving average of 0.6373 at the low (green line in the chart above), and the
  • 100-hour moving average of 0.63904 at the high (blue line in the chart above).

In between those levels is a swing area between 0.6379 and 0.6387 (see red numbered circles on the chart above)

The low-price rate of 0.63874 and has seen a modest bounce back toward the is 0.6400 level.

Buyers looking for a dip, this is the area to buy against. Sellers? You want to see the levels outlined above to start being whittled away.

This article was written by Greg Michalowski at Source