Stalls near the 100 bar MA on the 4-hour chart
The AUDUSD has been in a long run to the upside. The move from December low at 0.750098 took the price up to 0.8135 last week. That high took out the 2017 high of 0.81242 - but only by 11 pips. The next three trading days after the high, stalled ahead of the highs. Sellers put a lid on the pair.
Drilling to the hourly chart below,, the high was in place but the 200 hour MA and the rising trend line still needed to be broken. The trading in the early Asia-Pacific session did not show much downside momentum at first on the break. However, sellers started to lean against the 200 hour moving average (green line in the chart below),. And eventually the selling intensified.
The fall took the price to the 100 bar MA on the 4-hour chart and the selling stalled.
The NY session has seen a move back higher. Looking at the 5-minute chart below, the price has moved back above the 100 and 200 bar MA (blue and green lines in the chart below). That is more bullish in the short term, but has so far stalled just ahead of the 38.2% at 0.80362. Also near that area are swing levels from earlier today (and the end of day yesterday) at 0.80338.
That intraday level is a barometer for bullish and bearish NOW.
