The AUDUSD (FXA, quote) pair went back and forth during the session on Tuesday, bouncing off of the 0.9250 level yet again. This is an area that has been extraordinarily supportive, and as a result it doesn’t surprise us that we continue to hang about.
AUDUSD has been on a steady uptrend, as seen on the 4-hour time frame, but it appears that the rally is slowing down.
AUDUSD continued its sideways movement in a range between 0.9318 and 0.9408.
The AUDUSD pair went back and forth during the session on Thursday, ultimately printing a fairly neutral candle.
The AUDUSD pair did very little during the session on Monday, as it tried to rally but failed in the end.
AUDUSD remains in uptrend from 0.9202, the fall from 0.9394 is likely consolidation of the uptrend.
The AUDUSD pair fell during the session on Wednesday, but ultimately found a little bit of support around the 0.93 level.
The AUDUSD pair took off to the upside during the session on Tuesday, breaking the top of the hammers and more importantly, breaking above the sideways grind that we have been stuck in for 2 weeks.
AUDUSD broke above the upper line of the price channel on 4-hour chart.
AUDUSD remains in downtrend from 0.9461, the rise from 0.9202 is likely consolidation of the downtrend.
