AUDUSD corrected higher today (after Monday’s sharp decline) and in doing so moved towards some moving average resistance defined by the 200 hour moving average and 100 bar moving average on the chart of 4 hours. Also in this area is the 50% of the April trading range at 0.65028. This area between 0.6491 and 0.6502 (above and below 0.6500) will be the barometer for a more bullish trend above/more bearish below.
In this video I talk about the roadmap levels in play before and during the Fed’s rate decision.
This article was written by Greg Michalowski at www.forexlive.com.
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