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AUDUSD strikes to a brand new session low
The AUDUSD is buying and selling to a brand new session low at 0.66529. The pair has moved again into the buying and selling vary from after the RBA fee hike yesterday. Earlier at present the value broke to a brand new excessive going again to mid-Might.
That transfer increased yesterday took the pair above the 50% midpoint of the Might buying and selling vary, and likewise the excessive costs from each Friday and Monday at 0.66376.
The excessive worth yesterday reached 0.66834 earlier than rotating again right down to retest the 50% midpoint. The corrective worth decline yesterday acquired inside 4 pips of that midpoint yesterday earlier than rotating again to the upside (at 0.6641 versus 0.66376).
In buying and selling at present, after up-and-down worth motion within the Asian session, the value moved increased and above its 200-day transferring common at 0.66914 within the European morning session (it was the primary transfer above that transferring common since Might 11). It additionally prolonged above a swing space going again to Might 11, Might 12, Might 15, and Might 16 between 0.6704 and 0.67092 (see purple numbered circles within the chart above).
That break failed and when the value moved again beneath the 200-day transferring common, consumers turned to sellers and the value has been falling decrease since then.
What subsequent?
The following main goal for additional promoting would be the aforementioned 50% retracement of 0.66376. Earlier than that was low from yesterday at 0.66416. A transfer beneath that degree would then have merchants wanting towards the rising 100-hour transferring common at 0.6627. The value moved above that transferring common degree again on Thursday of final week.
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