The AUDUSD is sharply higher today, up 0.84% on the session, and making a decisive break away from a significant technical confluence of moving averages. The rally has propelled the pair above:
The 100-hour MA at 0.64403
The 200-day MA at 0.6445
The 200-bar MA on the 4-hour chart at 0.6450
That tight MA cluster had previously acted as a magnet for price and a ceiling during consolidation last week, but today’s move marks a clear shift in momentum. The bullish break opened the door for a retest of the key swing area between 0.6493 and 0.6500, which previously capped multiple tops in May (see red numbered points on chart). Sellers leaned against the high of that area and pushed the price back to the downside.
To the downside, traders will now look at recent tops and bottoms including a high and low from today near 0.6470. Below that level and traders would look toward the cluster of moving averages between 0.6440 and 0.6450.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about audusd surges higher today and breaks away from key moving average cluster was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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