The AUD/USD, like many different foreign money pairs over the previous 24 hours, has skilled vital volatility in response to the transition of energy within the U.S. underneath Trump. Yesterday, the pair dipped to check the 100-hour transferring common (MA), briefly breaking beneath it earlier than shortly rebounding. An analogous sample emerged right this moment with two separate breaks beneath the MA, although there stays a reluctance to maintain strikes beneath this key degree.
On the upside, the 38.2% Fibonacci retracement of the decline from the November 25 excessive has capped rallies, serving as resistance each yesterday and once more right this moment. This leaves the pair confined between robust assist on the 100-hour MA and resistance on the 38.2% retracement.
Inside this vary, a swing space at 0.62457 gives an extra point of interest. Merchants ought to monitor this degree for potential bullish or bearish indicators, because the market stays balanced between assist consumers and resistance sellers for now. A breakout in both path may present the subsequent directional cue for the AUD/USD.
The video outlines the important thing ranges in play and explains why.
