Moves back toward unchanged on the day
The AUDUSD ran higher the first 3 days of the week - especially on Tuesday. Yesterday, the price made new highs but move up and down, closing higher on the day but well off the highs.
Today, the pair has seen the price move up, down and now up again. The price is now about 7 pips below the close from yesterday currently.
Technically, on the hourly chart, the pairs low today revisited the underside of the broken trend line. That trend line was broken on Tuesday on the run higher. Holding the level gave buyers a reason to enter (and sellers to cover).
What now?
I have highlighted the 0.71296 to 0.71463 as an area to eye (see yellow area in the chart above). Get above and stay above, and we could see the pair resume it's upside move. Find sellers and we will be looking at lower highs over the last few days and should see a turn back toward the lows.
