AUDUSD bounces on the test of the 100 day MA

Technical Analysis

Author: Greg Michalowski | forex

No break on the first look

The AUDUSD fell to test the 100 day MA and there was a bounce on the first look.

No break on the first look

The pair remains between the 100 bar MA on the 4-hour above and the 100 day MA below.   

Sellers today, have tilted the bias more to the downside with breaks below the 100 and 200 hour MA, the 38.2%. 50% and 61.8% retracements. That's a number of levels broken which may make the 100 day MA for a rainy day next week.  

So there should be more up and down between the 100 bar MA on the 4 hour above and the 100 day MA below.

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