As we finish the trading week and look toward the new trading week, the sellers are more in control in the AUDUSD. The bias is more to the downside on both the daily and hourly chart.

Having said that, the pair has been mostly in an up-and-down trading range over the last 5 trading months.

With the bias down, what would tilt the bias more to the upside, and if those levels can’t be breached, what would get the price outside the 5-month up and down trading range.

This article was written by Greg Michalowski at www.forexlive.com.