- AUDUSD Moves to Support at .9431
- R3 Range Resistance Sits at .9476
- Price Under S4 Signals a Breakout to New Lows
The AUDUSD spent most of the overnight trading session reversing between
key points of support and resistance. With price failing to break out
below S4 pivot support, range traders will look to take advantage of
prices reversals back into the defined trading range pictured above.
Currently, range support for the AUDUSD is found at .9431 as denoted by
the S3 pivot point. With price above this pivot, range traders can
consider new buy entries in anticipation of an early morning price
reversal. Range resistance currently stands at the R3 camarilla pivot
which can act as potential range targets near .9476.
Range reversal traders should always be cautioned of the potential for a breakout. A move below the S4 support line at .9409 would signal a short term move towards lower lows, and signal a change in current market conditions. At this point, range trading should be concluded and traders can consider entries with the markets new influenced direction.
