The AUDUSD is having a down, and up, and back down trading day today. The "ups" have been finding resistance against its 200-hour moving average currently at 0.6808 (green line in the chart below). The "downs" have been finding support against a swing area between 0.6750 and 0.67546. Going forward getting outside of that battle zone with momentum would be eyed by traders.
On a break to the downside, the 38.2% retracement of the move up from the May 31 low followed by the 100-day moving average would be downside targets. Those levels come in at 0.67306 and 0.67159 respectively.
On the topside, a break of the 200-hour moving average at 0.6808 would then have the falling 100-hour moving average at 0.68117 to get above. Get above both, and the buyers would look toward the swing low from Monday's trade of 0.6835 as the next target.
