AUDUSD reaches to 200 day MA and start of swing area

Technical Analysis

Author: Greg Michalowski | audusd

200 day MA at 0.66548

The AUDUSD has reached its 200 day MA at the 0.66548. The high price for the day has reached just above that level at 0.66618. 

200 day MA at 0.66548 
In addition, the price moved the low end of an old floor that is now a ceiling.  That area comes in at 0.6662 to 0.66842 and was defined by swing lows going back to August, September January and February.  In February, the price moved below that floor only to retest it in March and find sellers.  

Needless to say, that area (from 0.6662 to 0.66842) will be a key barometer for buyers and sellers.  Keep the ceiling and the price rotates (early sellers against the level are trying now).   Move above, and the buyers take the pair even higher.  

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