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Forex technical analysis: AUDUSD returns to the neutral zone

Discussion in 'Technical Analysis' started by ForexLive, Jun 15, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Employment later today The AUDUSD fell below the 200 hour MA yesterday and raced to within 4 pips of the 50% retrcement level at 0.73259. The correction off that low went back to test the 200 hour MA (green line). The fall to the low today could not extend any lower than yesterday's low despite lower NAB business confidence (3 vs 5 last). Business conditions were better though at 10 vs 9 last month. A stronger stock market may have also contributed to risk trades and a better tone.

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