AUDUSD trades up and down with a 200 day moving average stalling before today

<p>The AUDUSD fell lower in the early Asian session, and in the process tested support targets near the 61.8% retracement of the move up from the July 6 low at 0.67117, and the 200-day moving average of 0.67175. The low price reached 0.6714 between those levels, and bounced higher.</p><p>The price action has been up and down since then with resistance up near at 0.67546. That level represents the high of a swing area between 0.6737 and 0.67546. The 50% midpoint of the move up from the July 6 low comes in at 0.67466.</p><p>The buyers and sellers are battling back and forth today, but the technical levels are doing a good job of defining intraday support and resistance so far. Traders are waiting for the next break outside of the intraday range.</p>

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