AUDUSD stays above 100 hour MA and upward sloping trend line

Technical Analysis

Author: Greg Michalowski | audusd

Also stays above the 38.2% of the move up from May 22 low

The AUDUSD made a new high going back to March 9 at 0.66818, but looking at the daily chart below, that high was still just below the March swing high at 0.66842. The pair going back to August 2019, had a floor initially in the 0.6662 to 0.66847 area. That became a ceiling in February. This week, the pair banged against that ceiling but has not been able to break through. Sellers have since pushed the price back below the low of that swing area at 0.6662 and also the 200 day MA at 0.6653. The price is currently at 0.6641.  

Also stays above the 38.2% of the move up from May 22 low
That is the bearish news.  The not so bearish news  comes from the hourly chart below. The price for it fell to test the 100 hour MA at 0.6619. The low reached 0.66178.  The pair also remains above the 38.2% of the move up from the May 22 low at 0.66148 (that was also the swing high from May 20), and an upward sloping trend line at 0.6606 (and moving higher).  

With the price below the 200 day MA above at 0.6653 and above the 100 hour MA at 0.6619, there is a little something for the bulls and the bears. 

The AUDUSD on the hourly

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