The AUDUSD raced higher in the Asian session on the back of better employment data. However, the run to the upside saw buyers extend a swing area near 0.6839 to a high of 0.68463, but that run was short-lived. Buyers turned to sellers and the run to the downside started.
The price is now below the 200-hour MA at 0.6784 after testing the close from yesterday at 0.6771. Can the sellers – who are not making the break – keep the momentum going?
Stay below the 0.6790 area in the short term and we see further downside probing in the pair.
AUDUSD retraces the gains in the Asian session. .