The AUDUSD story changed today with buyers taking control. Want to hear the new chapter?

<p>The <a href="https://www.forexlive.com/terms/a/aud-usd/">AUDUSD</a> had a volatile up-and-down price action in the Asian/Pacific session. The price action initially saw the pair extend above its 100 and 200-day moving averages, the top of an up-and-down "red box", and the 38.2% retracement of the move down from the June 16 high.</p><p>The initial move to the upside stalled the AUDUSD pair near a swing area low near 0.6740 (the swing area is between 0.6740 and 0.67546). The subsequent fall into the European session took the prize all the way back through the 200-day moving average and down to the 100-day <a href="https://www.forexlive.com/terms/m/moving-average/">moving average</a> (the higher green and blue lines at 0.66986 and 0.66625 currently). The day's gains were fully retraced, and the technical bias was shifting more to the downside.</p><p>However, the lower-than-expected US CPI data goosed the AUDUSD price to the upside and back above the MAs, the high of the "red box" and the 38.2% at 0.6711. A short time later the swing area between 0.6740 and 0.67546 was broken, and more recently the price has been trading above and below the 61.8% retracement at 0.67829. </p><p>The current prices trading at new session highs at 0.6794. The next target comes against the swing level near 0.68068 and then at 0.68352. </p><p>Close risk can be the 61.8% retracement at 0.67829. For buyers with more risk tolerance to the downside, a move back into the swing area between 0.6740 and 0.67546 would have traders nervous and sellers hopeful of a break below the lower level.</p><p>Prior videos in the AUDUSD:</p><ul><li>https://www.forexlive.com/technical-analysis/the-audusd-price-action-makes-me-sayhmmmmmmm-20230711/</li><li>https://www.forexlive.com/technical-analysis/audusd-shifts-short-term-bias-back-higher-with-daily-mas-looming-to-the-topside-20230710/</li></ul>

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