AUDUSD rebounds after trending lower for most of the trading day

AUDUSD

AUDUSD has corrected up toward swing area resistance

The  AUDUSD 
AUD/USD

The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar (USD) is the world’s most traded currency, resulting in a very liquid pair, with tight spreads, often staying within the 1 pip to 3 pip spread range on most
forex brokers. AUD/USD Popular Among Various Types of TradersA lot of traders consider the AUD/USD to perhaps be the most consistent currency pair with respect to swing trading, as it has often moved in steadfast cycles.Having said that, every pair presents its own challenges for traders.The AUD/USD is very popular with swing traders, with the four-hour timeframe being, historically at least, more dependable than others. Historically the AUD/USD is influenced by interest rate differentials, commodity prices, government credit ratings, and overall sentiment and speculation.

The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar (USD) is the world’s most traded currency, resulting in a very liquid pair, with tight spreads, often staying within the 1 pip to 3 pip spread range on most forex brokers. AUD/USD Popular Among Various Types of TradersA lot of traders consider the AUD/USD to perhaps be the most consistent currency pair with respect to swing trading, as it has often moved in steadfast cycles.Having said that, every pair presents its own challenges for traders.The AUD/USD is very popular with swing traders, with the four-hour timeframe being, historically at least, more dependable than others. Historically the AUD/USD is influenced by interest rate differentials, commodity prices, government credit ratings, and overall sentiment and speculation.
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has been on a one-way ride to the downside since rising to the highest level since January 14th just yesterday. Since then, the price moved about 188 pips from a high of 0.7283 to a low today of 0.7094. That low got within about seven pips of the swing low from February 14 and also the 61.8% retracement of the move up from the January 28 low (at 0.70879).

Since then, the price seen a bounce back with the corrective high reaching 0.7145. The correction is still below a swing area that dissects recent highs and lows between 0.71506 and 0.71679. If traders could start pushing the price into that area and above it, it would disappoint the sellers.

Drilling to the 5-minute chart below, the trend lower has seen a steady decline with the price staying below its falling 100 bar moving average (blue line in the chart below). That moving average currently comes in at 0.7149 which is just below the 50% of the last trend move to the downside today at 0.71496.

If the buyers are to start to take back more control, getting above that 100 bar moving average and then the falling 200 bar moving average at 0.71679 currently (green line in the chart below), would give buyers some comfort. Absent that, and the sellers remain firmly in control with the potential for another run to the lows for the day.

AUDUSD

AUDUSD stays below the 100 bar MA

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