12:16, 26 November

Market Recap

The two key levels of interest to AUDUSD traders presently are 0.7150 and 0.73.Both have been influential throughout the last few months and continue to play a role.Over the last few weeks it has reversed from support at 0.7050 and moving up to a three month high above 0.73 recently before meeting some stiff resistance at this level.It appears the 0.73 level is starting to play a role as several times now over the last few months there has been selling pressure from around this level repelling prices lower.A couple of weeks ago it enjoyed some support from just above 0.7150 and now looks it could settle between 0.7150 and 0.73 for a little while.