Despite this underlying support, buyers have struggled to gain real momentum. The last 5 trading days has seen the price action trade above and below the old ceiling level. On the topside, the pair remains contained below a ceiling formed by multiple highs near 0.6429–0.6441. Sellers have repeatedly leaned against this resistance zone, capping rallies over the past week.
For buyers to gain more control, a break above the 0.6429–0.6442 resistance area is needed.
The buyers are making play on the move away from the 100 and 200 hour moving averages in the old ceiling near 0.6388. As long as the price remains above those levels the upside momentum can continue.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about audusd trades to new highs and above a key swing area mas was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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