The AUDUSD raced higher in the Asian session on the back of better employment data. However, the run to the upside saw buyers extend a swing area near 0.6839 to a high of 0.68463, but that run was short-lived. Buyers turned to sellers and the run to the downside started.
The price is now below the 200-hour MA at 0.6784 after testing the close from yesterday at 0.6771. Can the sellers – who are not making the break – keep the momentum going?
Stay below the 0.6790 area in the short term and we see further downside probing in the pair.
This article was written by Greg Michalowski at www.forexlive.com. Source