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Forex technical analysis: AUDUSD tests 50% and old day high.

Discussion in 'Technical Analysis' started by ForexLive, Sep 17, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Bounces quickly It was quick. In fact too quick for me to type it up, but the AUDUSD was falling quickly until it hit the 50% od the days range and the earlier high for the day at the 0.7205 and bounded. Nice level to find support from. Look for the sentiment to switch back up. Having said that the extension above the trend lines in the chart below may pose more of a challenge the 2nd time. If buyers like the dovish Fed, and move into risk(?) those trend lines above will be eyed to be broken again.

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