AUDUSD moves to week highs and toward 100 day MA

Technical Analysis

Author: Greg Michalowski | audusd

Dollar falling into the weekend

The AUDUSD is stretching to a new session high and in the process is looking to test the 100 day MA at 0.70208.  The pair today bottomed at the start of the session against the 100 bar MA on the 4-hour chart, MOved above the 200 hour MA and retested that MA in the NY session. That holding - and dollar selling - has now sent the price toward that key 100 day MA. THe price moved above that 100 day MA back on July3 and 4th, but failed, retesting on the 5th before moving lower. There should be sellers on the test of the MA with stops on a break above.  

Dollar falling into the weekend 
The AUD is now the strongest currency on the day (see chart below) while the USD is now the weakest currency on the day.   

The AUD is the strongest and the USD is the weakest now
US yields are now down about -2 to -3 basis points.  

US yields are lower

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