AUDUSD holds gains above midpoint, consolidation continues ...Middle East

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The AUDUSD has consolidated the gains from yesterday which saw the pair move away from the 50% midpoint of the 2023 trading range. That midpoint level comes in at 0.67134. The high yesterday extended to 0.6774. The high price today extended to 0.67785 to a new 4+ month high but only barely.The low for the day reached 0.6748 for a low-to-high trading range of only 31 pips. That is less than half of the normal range over the last month of about 64 pips. Needless to say, there is not a lot going on. However, the sellers are not exactly "winning" over the control either.What would shift the bias and lead to more downside corrective probing for traders?Looking at the hourly chart below, a move

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Last updated : 20 Dec 2023 clock 10:56 PM

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