AUDUSD recovery stalls into key resistance zone ...Middle East

This zone—between 0.60874 and 0.61306—marks a critical hurdle for buyers. A break above would suggest a shift in momentum and open the door toward the 0.6170, where the 50% retracement reside.

Buyers are making play. Can they keep the momentum going or will sellers lean?

Resistance zone: 0.60874 (Feb low), 0.61139 (38.2%), 0.61306 (Jan low)

Bullish breakout target: Back above the 50% midpoint at 0.6170 (and swing area around that retracement level)

This article was written by Greg Michalowski at www.forexlive.com.

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