Pattern line was damaged however rapidly rebounded
The AUDUSD has moved decrease at the moment after a run greater into the shut and Asian session, bumped into the underside of a damaged pattern line and rotated decrease (see blue numbered circles).
The push decrease moved to check one other pattern line (this one an upward sloping line – see crimson numbered circles – after falling beneath the converged 100/200 hour MAs. The value did fall beneath that pattern line, however patrons rapidly got here in and at the moment are pushing the value again greater.
So the pair sits between a decrease, upward sloping pattern line at 0.77257 and a better, downward sloping pattern line at 0.7771. The value is at present between these ranges at 0.7750.
A battle is on.
For financial institution commerce concepts, take a look at eFX Plus