The AUDUSD is up marginally from yesterday’s close at 1.0354. Over the last few hours of trading however,
- The price has been able to stay above this closing level and also the 100 hour MA (currently at the 1.0360 level, but
- Is struggling with the 200 day MA at the 1.0376 level (high reached 1.0383 but backed off)
Keeping the price above the close and the 100 hour MA, along with risk on possibility (i.e. help from stronger CAD), keeps the bulls in charge. A move away from the 100 day MA (currently at the 1.0376 ) would open the door for further upside with 1.0400 and the 100 day MA at the 1.0425 the next key targets.
