200 day MA at 0.7694 (high reached 0.7698)
The AUDUSD tested the broken 200 day MA earlier today. The MA comes in at 0.7694. The high price reached 0.7698. The buyers tried to push it, but the move failed. The price is back down and trading at 0.7656 currently. Bears remain more in control.
The low today did go down and test the 50% of the move up from the December 2016 low at 0.76419. The low touched 0.7639.
The pair has defined some interim support and resistance against the 200 day MA above and the 50% retracement below. Use those levels for bias clues. I give the sellers a little more of the advantage, but sellers will need to make the next push soon, AND if there is a move above the 200 day MA, all bearish bets will be off. I would expect more buying momentum.
