50% retracement above and swing area/200 hour MA below
The AUDUSD is not going very far today with a 28 pip trading range.
The pair has found sellers ahead of the 50% retracement above at 0.72659, and buyers below near the 200 hour moving average at 0.7240 and a swing area between 0.72368 and 0.72452.
THe current price trade at 0.72563 between those levels as buyers and sellers throw punches at each other and await a potential knock out blow that pushes the price one way or the other.
Keep swingin’. At some point one of the fighters will get tired, and a champion will be crowned.
This article was originally published by Forexlive.com. Read the original article here.