The AUDUSD has been trying to extend to the upside over the last few trading days but has seen resistance even thoughnew highs have been made.
Today is another try. The price has extended above the high price from last weekend at 0.6838. Also, it has moved above the August high price at 0.6823.
Both of those levels along with the 61.8% retracement on the daily chart are support levels that if the buyers can stay above would keep them in play. Conversely, if they are broken my guess is that buyers return to sellers on the disappointment once again.
ON the topside, the targets at at dammit talk 0.6871 and then near 0.6900.
This article was written by Greg Michalowski at www.forexlive.com. Source