AUDUSD making effort to back on high
1/31/2018 6:27:23 AM
The AUDUSD pair rapidly retreated softer and is now making a new effort to move back above the 0.8103 handle.
A follow over buying interest beyond the 0.8103 handle might keep on to provoke new supply near the 0.8138 area, above which the pair is probable to dart towards regaining the 0.8211 handle.
On the other hand, the 0.8045-30 area now appears to have arisen as an immediate strong support, which if broken is probable to speed up the reduction more back towards the key 0.8010 psychological mark.
FOREX market analysis by FxErvin.