The AUDUSD is lower on the day but did find support buyers near support at 0.6622. The bounce higher, however, has moved up to test the low of a cluster of moving averages between 0.66448 and 0.66545. As long as the price can remain below those moving averages, keeps sellers more in control.
Overall, the price action going back to the beginning of May has been mostly between 0.6579 and 0.6689. There has been lots of ups and downs between those levels. Ultimately, the pair would need a break above or below the upper or lower extreme.
This article was originally published by Forexlive.com. Read the original article here.