AUDUSD runs higher, extending above the recent ceiling area. What next?

G. Samdani Avatar



The AUDUSD moved above a ceiling area between 0.6635 and 0.66439. Although the price dipped back below that level after the US data today, the price has rebounded higher.

On a topside, is the 61.8% retracement at 0.66759. That is also part of a swing era between 0.6676 and 0.66896. Get above that area opens the door for further upside momentum, taking the pair to new levels.

AUDUSD ceiling is now a support.

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