8 months have seen a number of highs in 0.77307 to 0.7755 area
The AUDUSD has poked to new 4 month highs in trading today. In the move the price moved above a ceiling from last week that had a series of highs in the 0.7715-18 range. That break has sent the price to another key area defined by a number of swing highs going back to August 2016. Those highs come in at 0.77307 to 0.7755. There have been 6 other peaks that stalled in this area. In November, the price moved above it one day, and was back below it the next day. There is something about 0.77307 -55 area. Today’s high stalled at 0.77471.