AUD is the strongest. CHF is the weakest.
The AUD took off in trading today, rising against all the major currency pair. The weakest was the CHF.
The AUD was helped by increasing uncertainty about a cut in rates after next week's RBA meeting. The CHF was hurt as traders exited safe haven flows into the CHF.
The USD was down against all currencies - with the exception of the Swiss franc. The pair was weakest against the AUD, falling by 2.11% on the day. The AUDUSD traded above the 100 day moving average for the 1st time since September 8, 2014, and ended the day looking straight at the next target at the 0.8031-34 area. Although there should be sellers on the test of this level, a break could solicit more buying momentum from a technical perspective. The 38.2% of the move down from the July 2014 high comes in at 0.8285. It also corresponds with the high area for the year (January high).
Looking at the 5 minute chart, the momentum is fading into the NY close and this is allowing the 100 bar MA to catch up with the price. With the resistance above, there could be a wander below the MA (blue line in the chart below). However, look for the 0.7984 level to limit a decline.
