High runs into some older swing levels
The AUDUSD traded to the higherst level since August 2018 earlier in the day. The high price reached 0.74128, That was just above the swing low from May 2018 at 0.74117. Another swing area comes in at the swing high from December 2018 at 0.73927. T he price is back below both those levels with the price currently trading at 0.7374.
Drilling to the hourly chart below, the corrective low price today stalled near the Asian session lows near 0.73655. In the process, the price fell below an upward sloping trend line (and remains below at 0.73919). If the price can move below the lows for the day that would increase the bearish bias and look toward the low from Friday at 0.73397.
