<p class=“MsoNormal“>On the daily chart below for AUDUSD, we can <a target=“_blank“ href=“https://www.forexlive.com/LiveCharts?tvwidgetsymbol=FX%3AAUDUSD“ target=“_blank“ rel=“follow“>see that after breaking above</a> the downward <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a>, the buyers started to have the
upper hand and even managed to breach the 0.67 <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>resistance</a>. The <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
averages</a> are on the verge of crossing upwards, which would be a bad omen for the
sellers. We can see how hard the sellers are fighting back by the long candlesticks
wicks above the 0.67 handle. </p><p class=“MsoNormal“>Those were created as the Fed
delivered on expectations but sounded less hawkish, giving the buyers some
conviction to try a push to the next resistance at 0.6781. The following days
though the sellers piled in and brought the price back below the 0.67 handle.
This line seems to be important for the market. </p><p class=“MsoNormal“>On the 4 hour chart below, we can
see that the fall after the <a target=“_blank“ href=“https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-fed-hikes-25-basis-points-dollar-initially-falls-20230322/“>FOMC
decision</a>, led also to the break below the upward trendline, which was defining
the uptrend. The price since then pulled back to the 0.67 resistance and it’s
likely that we will find sellers here. Moreover, the recent rally came after
the hot <a target=“_blank“ href=“https://www.forexlive.com/news/sp-global-marchus-services-pmi-538-vs-505-expected-20230324/“>US
PMIs</a>, which may indicate that this is just a squeeze on dollar longs and we
may see the USD coming back strongly soon. </p><p class=“MsoNormal“>This will depend on the economic
data though. If the data keeps coming in strong, then the market should reprice
again interest rates expectations and lead to some dollar strength. </p><p class=“MsoNormal“>On the 1 hour chart below, we can
see that for the sellers this is a good spot to pile in as they have the 0.67
resistance and the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-confluence-20220318/“>confluence</a> with the 50% <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-using-fibonacci-retracements-20220421/“>Fibonacci
retracement</a> level. More conservative sellers may want to wait
for the price to break below the 0.6665 support before jumping onboard. </p><p class=“MsoNormal“>The buyers, on the other hand,
should find more conviction in case the price breaks again above the 0.67
handle, but they are likely to lean also on the 0.6665 support in case the
price pulls back. </p>

This article was written by ForexLive at www.forexlive.com.

<p style=““ class=“text-align-justify“>The peak of the optimism today came right at the European open and since then, we are seeing a bit of a hiccup as stocks are unable to carry forward the slightly better mood from Asia. S&amp;P 500 futures are down 4 points, or 0.1%, currently:</p><p style=““ class=“text-align-justify“>Meanwhile, the bank index in Europe has also turned negative (-0.3%) after a decent start earlier in the day. Looking over to the major indices in the region, they have also pared their early gains seen <a target=“_blank“ href=“https://www.forexlive.com/news/european-equities-open-higher-to-start-the-day-20230328/“ target=“_blank“ rel=“follow“>here</a> to be up by just 0.1% across the board now.</p><p style=““ class=“text-align-justify“>There aren’t any major headlines as it just seems like investors are digesting the post-banking turmoil feels alongside some trepidation ahead of key inflation data later in the week.</p>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>No tsunami warning has been issued and the epicenter appears to be just off the east coast of the Aomori prefecture. JMA is also reaffirming that the preliminary magnitude is that of 6.1. Judging by the location, it doesn’t seem to be one that might cause too much harm and damage to the mainland.</p>

This article was written by Justin Low at www.forexlive.com.