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AUDUSDs break below trend line fails. Can the upside swing area turn the bias around?


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Buyers making a play?

The price of AUDUSD has seen a break below a swing area (see red numbered circles) at the 0.72979-0.73022 area and then a trend line (currently at 0.7287).  The fall moved to a low of 0.72766, but we have now seen a move back higher. IN the process, the broken trend line has rebroken (failed break) and looks toward the swing area.  

So buyers are making a play, but they need to see the price rebound above the 0.73022. If that can’t happen, look for a continuation of the downside.  
Time will tell but buyers are trying to take back control.

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