The AUDUSD has seen up and down volatility today.
Earlier in the day, the price moved lower and back below the 200-day MA at 0.7322. Yesterday, the price closed just above that moving average level.
However, after a break just around natural support at 0.7300, the price moved higher and extended to the highest level since November 2021 at 0.7374. Looking at the 4-hour chart above, the price stalled just above the high swing back to November 15 at 0.73698.
Sellers entered and pushed the price below its 200-day moving average with the low stop 0.73128, but buyers again pushed the price higher. The price is now back at 0.7371 and retests the Nov 15 high and the high for the day at 0.7374. Get to the top, and traders will then look to target the 0.7411 to 0.74305. This area corresponds to swing lows and highs returning from November 3 to November 9.
Key target near 0.7370 area. Key leaves the 200-day MA at 0.7322. Both levels are important for buyers and sellers. The 0.7370 area needs to be broken to increase the bullish bias. Without that, the 200-day MA with moves up and down over the last 24 hours should stay broken to the top to now keep the buyers happy. If the price moves back down, we should see buyers give up and lower p himrobing.