Peaking above the 100 hour MA for the 2nd consecutive day. Can the price stay above the MA level now?
The AUDUSD has moved to new session highs and in the process has peek above the 100 hour moving average. That moving average currently comes in at 0.71704. The high price just reached 0.7173. Recall from yesterday's trade, the price also took a quick look above its 100 hour moving average only to rotate back to the downside.
Key level for both the buyers and sellers. If the high is once again in place, a move back below the 200 hour moving average at 0.71647 will be eyed for some comfort. Until then, however, the buyers can still hold on to the hope that the buying can continue.
