The AUDUSD moved above the 100-day MA for the first time since October 2024. The price moved higher on the break, but fell short f the high price for 2025 at 0.6408 and the 38.2% of the move down from the September 2024 high at 0.64136.
The high price could only get to 0.6390.
Yesterday, the price moved briefly below its 100 day moving average once again, but rebounded into the close. However today, the price once again moved lower and broke below the 100 day moving average of 0.63489. This time the buyers gave up. The sellers took control and force the price back to the downside.
Looking at the four-hour chart, a swing area between 0.6326 and 0.6336 is the next target and the price today has moved modestly below that level reaching a low price of 0.6321. However, the 200-hour moving average at 0.6317 (see the green line on the hourly chart below) is now in play and seems to be stalling the fall.
Focusing on the hourly chart, the 100-hour moving average comes in at 0.6336 and the price now sits between the 200-hour moving average and the 100 hour moving average. Traders will be watching those levels for bias clues.
Move above 100-hour MA, and the 100-day MA will be targeted at 0.6349. Move below and the 100/200 bar MA on the 4-hour chart comes in at 0.6298 This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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