AUDUSD extends greater and enters swing space resistance space. Can momentum proceed?

The AUD/USD is pushing to new highs, with the worth now coming into a key swing space goal between zero.6287 and zero.63016 (see renumbered circles on the chart under). A sustained transfer above this vary may pave the best way for a rally towards the January excessive of zero.63310.

On the draw back, instant assist is seen at zero.6274. This degree holds significance because it served as a swing low on January 27 and a swing excessive on January 28. Moreover, in in the present day’s buying and selling, the corrective pullback after the preliminary upside transfer stalled at this degree, additional emphasizing its significance within the quick time period from a technical perspective.

This text was written by Emma Wang at www.ubaidahsan.com.



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