AUDUSD breaks higher but upside move is fading

<p>The AUDUSD followed the trend in the US dollar to the downside, but Azucena reversal over the last few minutes. Technically the price moved above its 100-hour moving average of 0.65975. It also moved above a swing area between 0.6595 and 0.6603. The high price reached 0.6607 but has since rotated back to the downside and trades below the 100-hour moving average and swing area at 0.6584 currently. Ultimately, it would take a move above the 100-hour moving average and the swing area up to 0.66032 increases the bullish bias. Absent that, and the sellers are still winning.</p>

This article was written by Greg Michalowski at www.forexlive.com.