AUDUSD moves back toward... now above the 100 hour MA.

Tested and held the MA yesterday

The AUDUSD fell sharply yesterday - cracking below a trend line in the NY afternoon session on dollar buying. That momentum continued in the Asian session but stalled after breaking below last Friday's swing low (at 0.75602) but ahead of the 61.8% at 0.7552 (the low reached 0.7556).

The move back higher is now stretching back to the 100 hour MA at 0.7400 (being tested as I type). At the highs yesterday, the pair stalled and rotated lower.

Do sellers come back in?

On a break, there could be a run toward the 200 hour MA at 0.76138.

The London traders are heading to the day's end. Flows may be an influence as the FOMC tightening approaches. Despite the expectation for a hike, the dollar is under more pressure overall.

PS The MA was just broken as buying continues. Look for buyers to use the 200 hour MA as a stall area now. The 100 hour MA did not put up much of a fight.