AUDUSD breaks above key resistance at 0.6656, but fails to sustain bullish momentum ...Middle East

The AUDUSD broke above its 200-day moving average of 50% midpoint of the move down from the July 2023 high on Monday (near 0.65824). The pair also moved above the high of a swing area at 0.6595. That area between 0.6582 and 0.6595 is now support. If the technical bias is to increase more to the downside, getting below those levels is needed.On the topside, yesterday the move higher extended above the 61.8% retracement of the same move lower at 0.66561. The pair could not close above that level but tried again in today's session only to fail again.With 2 fails above the 61.8% retracement on 2 consecutive days, that level is now going to be resistance going forward. It would take a move above

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AUDUSD breaks above key resistance at 0.6656, but fails to sustain bullish momentum ...Middle East

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