The AUDUSD is ending an up and down week with bearish tilt but there is work to do

<p>The AUDUSD technicals are closing what has been an up-and-down trading week with a bias to the downside. That is a result, of the price action that has taken the price back below the 200 and 100-hour MAs at 0.6711 and 0.6700. Staying below those MAs tilts the bias more to the downside. </p><p>Although the bias is more to the downside, this week's trading had several different shifts in that bias including the price action today. </p><ul><li>The price highs today moved up to test the low of what is a topside swing level between 0.6727 to 0.6738. </li><li>On the downside today, the low of the day, bottomed near the low of a swing area that formed a floor for the early part of the week at 0.6676. </li></ul><p>The price did move below that level on Thursday after the stronger-than-expected CPI, but the momentum could not be sustained and the price rebounded back higher setting up the ups and downs today. </p><p>The video above outlines the levels in play as the trading comes to an end, and traders look to the new week. </p>

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