The 100 hour MA is 0.7165
The AUDUSD is trading at a new low and in the process tests the 100 hour MA at 0.7165. The pair is also testing the 38.2% rise from last Friday’s low of 0.7164.
The pair opened the week and traded the week’s low in the first hour of trading on Monday at 0.7083. The high was reached today after the pair attempted to expand above an upper trendline. Buyers tried, but lacked upward momentum.
The subsequent drop in the past 9 hours has slipped below the oscillating highs of July 22 and 28 at 0.7176-816. Watch this area for potential resistance now. Stay below to keep control of the sellers.
On the downside, if 100 is broken, the 200 hour MA will be looked at at 0.71429. Yesterday’s low fell at this MA and found buyers on the test. Today, this MA is close to 50% increasing the levels of technical importance.