AUDUSD moves back toward the 200 day MA

Asian test of the MA held. 100 day MA also a support target

The AUDUSD is moving back toward the 200 day MA at 0.7780. Earlier in the Asian session (see the overlay on the hourly chart) the price bounced off that level and corrected to a high of 0.7818.

The 2nd test may not be so lucky. However, the 100 day MA at 0.7770 (blue overlay in the chart above) is only 10 pips lower and the Feb 9 swing low (also low for the year) comes in at 0.7758.

So there is a lot to get through in the next 22 pips.

The price is testing the 200 day MA right now.

Taking a longer term look at the pair, the daily chart has a number of swing levels between 0.7729-58 (see blue numbered circles). A move below the 0.7729 level should really open up the downside, but this whole area should be hard to break.