AUDUSD caught in a variety, eyes key resistance forward
The AUDUSD continues to commerce in a uneven, range-bound market since Tuesday. Through the late Asian and early European periods, the pair discovered assist at zero.6334, which sits inside a key swing space between zero.6326 and zero.6341 (see inexperienced numbered circles on the chart above).
On the topside, right now’s excessive stalled at zero.6382, just under a notable resistance ceiling at zero.6390. The final three highs together with yesterday, have stalled at that degree (see crimson numbered circles). A break above that degree would shift focus towards:
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The 2025 excessive from February at zero.6407
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The 50% retracement of the decline from the September 30, 2024 excessive, coming in at zero.6428
For now, AUDUSD stays range-bound, however a break exterior the present boundaries may set the tone for the following directional transfer
This text was written by Emma Wang at www.ubaidahsan.com.
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