200 hour MA at 0.7108
The US Michigan Consumer Sentiment came in at 93.1, the highest level since July (exp 91.5). The AUDUSD fell on the print, hit the 200 hour MA and bounced. The 200 hour MA comes in at 0.71086. The holding of the line increases the levels importance going forward.
Looking at the daily chart, the low also corresponds with the 61.8% of the move up from the Sept 29 low. We have been below that level over the last few weeks of trading, but the much better employment report from yesterday out of Australia pushed the price sharply higher.
