AUDUSD has been trading above a ceiling zone between 0.6635 and 0.66439. Although the price fell back below this level after today’s US data, the price has rebounded higher.
Moving higher is the 61.8% retracement at 0.66759. This is also part of an oscillating period between 0.6676 and 0.66896. Exceeding this zone opens the door for further bullish momentum, taking the pair to new levels.
The AUDUSD ceiling is now support.
cnbctv18-forexlive
