The AUDUSD is consolidating in up-and-down trading. On the downside, a swing level of 0.6786 followed by the 38.2% retracement of the move up from the July 6 low at 0.67814, is providing the support (see red number circles and the retracement level).
On the topside, the rising 100-hour moving average at 0.68305 (blue line in the chart below) and a short-term swing area near 0.6837 is providing the technical resistance.
The current price trades at 0.6823 between the support/resistance levels.
Traders will be looking for a break of either extreme to give the next clues, but right now, the short-term bias is more neutral between the levels.
This article was written by Greg Michalowski at www.forexlive.com. Source