The AUDUSD has experienced significant fluctuations since the FOMC rate decision yesterday, as seen on the hourly chart. Initially, the price surged past the resistance zone between 0.67239 and 0.67296, driven by the rate decision. However, as the price neared the crucial 200-day moving average (currently at 0.6760), sellers stepped in to push the price back down.
On the downside, the price broke below both the aforementioned swing area and a lower swing area between 0.6691 and 0.6703. It also breached the 100-hour moving average (blue line, currently at 0.6690), but the decline halted just before the 200-hour moving average (green line, currently at 0.66776) during today's early Asian session.
Buyers once again drove the price upward, nearing the 200-day moving average where sellers reemerged in the European session. The price retested the 100-hour moving average and the swing area between 0.6691 and 0.6703, resulting in a modest bounce to 0.67124. Evidently, the market has seen multiple up-and-down movements.
However, a distinct trading pattern has emerged, with resistance sellers appearing near the 200-day moving average (currently at 0.6760) and support buyers emerging close to the 100-hour moving average at 0.6690 and the 200-hour moving average of 0.66776. The intermediate swing area between 0.6724 and 0.6730 serves as a barometer, indicating bullish sentiment above and bearish sentiment below.
