AUDUSD moves back above 100 hour MA after trend line support holds

Technical Analysis

Author: Greg Michalowski | audusd

Buyers taking back some control

As US stocks show some upside life - well the Nasdaq - the AUDUSD is seeing some upside life too.

Buyers taking back some control

Technically, the price moved lower in the NY session helped by a break below the 100 hour MA (again). That MA (blue line) comes in at 0.69515.

The low for the day did find low risk buyers against the trend line connecting the low from June 30 and yesterday at the 0.6941 level. Now, the price is back above the 100 hour MA at 0.69615.  Going forward, staying above each of those levels keeps the buyers in control. Move back below and there will likely be more downside probing.  

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