AUDUSD Technicals: Market trapped in a messy range between moving averages and swing zones

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Blur your eyes and look at the price action for the AUDUSD, and you see a lot of ups-and-downs. Since mid-April, the price has been mostly between 0.6354 and 0.6594.Yes, two weeks ago, the price moved to a new high but stalled at a topside trend line. The buyers had their shot to break the ceiling and then the topside trend line, and they missed.Sellers last week moved down from that high with the price moving back below the 100 and 200 bar MAs on the 4-hour chart (blue and green lines) on its way to the 100-day MA (blue line at 0.64326).The price at the lows last week and near that key daily MA, did extend below the 100-day MA, but the weaker US jobs report stopped that idea, and the price moved back higher.This week, the price low for the week bottomed near the low from July 17 at 0.64519. The price moved higher and traded today above both the 100-bar MA (0.65109) and the 200-bar MA (0.6526), but stalled near the swing area (green numbered circles).The price has moved back down and below the MAs. Buyers had their shot, sellers are back in control.Admittedly, it is a mess with all the ups and downs. However, if there are levels to watch I would focus on:0.6354 on the downside0.6594 on the topsideThose are the high and low extremes that if broken, the price is getting out of this up-and-down quagmire (it has to stay outside).In between, the trader focus should be on:0.6436 – 100-day MA0.6452 – Swing low this week and from July 17Those are targets for more selling.On the topside:0.65109 – 100-bar MA on the 4-hour chart0.6526 – 200-bar MA on the 4-hour chart0.6536 – Swing area high (green line)For your trading (and it is a trader’s market), those are the levels that will give clues for bias, risk, and targets.What now?The buyers had their shot today and stalled at the swing area, then fell below the 200 and 100-bar MAs.If the sellers are to keep control, they could now use the 100-bar or 200-bar MAs as risk.Staying below would have traders targeting the low for the week.Visit daily and often at www.investingLive.com. This article was written by Greg Michalowski at investinglive.com.