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The AUDUSD has seen volatile up and down price action in trading today. On the top side, the price has moved into a swing area between 0.6287 and 0.6301. The number swing highs have stalled within that area on Wednesday, Thursday, and Friday.
As a result, that area will now be a a required level to get and stay above to increase the bullish bias.
Conversely stay below, and traders would start to look toward the low from Thursday’s trade which are near the rising 100 hour moving average at 0.62537. Move below that level on the 200 hour moving average of 0.62344 would be targeted.
PS. The price of the AUDUSD has moved lower toward the 100 hour MA target after Pres. Trump has said that he plans to issue reciprocal tariffs as early as Friday.
The weekend is approaching in the last two weekends have seen sharp news that has led to big moves on Monday morning. Why not again. The US stocks are already moving lower with the NASDAQ index now down -1.21% and the S&P index down -0.78%