Pause over. Restarting upside?
The AUDUSD have been pausing ahead of a resistance area at the 0.6734/40 area over the last 3 hours, but the price has push to new session highs over the last few minutes.
Are we restarting the upside run? It looks that way.
A move above the 0.6740 level will have traders looking toward the falling 200 hour moving average at 0.6753 and the 38.2% retracement of the move down from the January 23 high at 0.67547. That area may be a tough nut to crack on the 1st test, but that broken, the buyers would have more confidence. The price has not traded above its 200 hour moving average since January 17.
The NASDAQ index is back over 2.0% on the day. Gold prices continue to move lower with the spot gold down $-25.38 at $1551.40. The low price reached $1549.14.
