200 hour MA and trend line above
The RBA meeting minutes at the start of the day warned of a higher AUD, but that has not deterred the pair from moving higher today.
The NY session saw a lot of ups and downs though with the pair centering the trading activity between the 200 hour MA above (green line in the chart above) at 0.80175, and the 100 hour MA below (blue line) at 0.7993.
The price trades more toward the upper extreme. The last hourly bar made new session highs, took a look above the 200 hour MA, but sold back off. Is that it? Sellers are leaning. In addition to the MA there is a trend line that cuts across at 0.8024.
The price action is symetrical to the NY session lows today. At the lows for the session, the price took a look below its 100 hour MA (blue line at 0.7933 currently) and quickly rebounded higher. That was the NY session low.
So we end the day with the price moving up and down in the NY session. The price is higher on the day. The price action moved above some technical levels in the process, BUT there were other levels that have not been broken. The new day will take the clues from the key resistance area above between 0.8017 and 0.8024, and the key support below between the 0.7993 and 0.79876 area.
