100/200 hour MA, 100 day MA between 0.7223 and 0.72297
The AUDUSD is staying above a cluster of MAs between 0.77238 and 0.77297. The cluster includes the 100 hour moving average, the 100 day MA (at 0.77256) and the 200 hour MA at 0.77297. The low price today has reached 0.77312.
Like so many of the pairs today, the range is very narrow at 32 pips vs 62 pips for the average of the last 22 trading days (about a month of trading). There is room to roam if the pair can make a break for it.
The high for the day was reached in the Asian session and 0.77628.
Clearly, if the price should break below the cluster of moving averages, the bias would shift more to the sellers, and should see stops being triggered.
Stay above, however, and the buyers still have the advantage against those moving averages.
On the topside, if the price is able to get above the 0.77676 to 0.77723 area (see green numbered circles), that should increase the bullish bias and lead to further upside momentum. Those levels corresponded with highs from last week. The high in trading yesterday stalled just ahead of that area at 0.77652.
