AUDUSD buyers try to keep price above swing highs

Technical Analysis

Author: Greg Michalowski | audusd

June 16 and June 23 highs at 0.69735 to 0.69758

The AUDUSD is trading higher on the day and in the process is above the swing highs from June 16 and June 23 at 0.69735 and 0.69758. The high price reached 0.69808. The currently price is back testing that swing area at 0.6974. Can the buyers hold support?

June 16 and June 23 highs at 0.69735 to 0.69758 
The price has moved above and below that area on two separate occasions today. If the price is going to move higher, staying above this level would give the buyers more confidence
from a trading perspective. A move back below, could turn the tide back to the downside with the broken 61.8% retracement coming in at 0.69531 and the rising trend line near that area as support.
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