AUDUSD cracks below the 100 hour MA

Technical Analysis

Author: Greg Michalowski | audusd

1st dip below the 100 hour moving average since Monday

The AUDUSD price has cracked below its 100 hour moving average at 0.68347. The relatively stronger dollar after the US jobs report is helping the downside.   

1st dip below the 100 hour moving average since Monday_
A lower trendline at 0.6826 on the hourly chart below and the 30.2% retracement of the move up from last Friday's low at 0.68199 are the next targets on more downside momentum. 

Earlier this week, the price moved above its 100 day moving average (see overlay on the hourly chart above). That moving average comes in at 0.68098.  On Tuesday and again on Wednesday, buyers came in and near that level and push the price higher.  If the pair is to had lower, a move below that 100 day moving average would certainly be eyed.  

For now, with the break of the 100 hour moving average, traders now will want to see the price remain below that level.

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