In today's trading, the price of the AUDUSD moved above the 38.2% of the downward movement from the end of November high at 0.6290 along with the swing range between 0.6287 and 0.63016. The break is more permanent.
In addition, a price correction fell in early US trading today, and tested the upper level of that swing area. Holding that level and the swing area (see the red numbered circle on the chart below) keeps the buyer in play, and gives sellers a reason to stop. , at least in the short term.
Now there is work to be done to bring back more control.
Looking at the daily chart below, the old floor dating back to the end of 2023 and to December 2024 is a key target next week and should it break that to the bullish trend. That range falls between 0.6334 and 0.6363 (see red circles on the chart below).
Everything is explained in the video above. Be aware. Be prepared.
