AUDUSD bounces off the 100 hour MA for the 3rd day in a row

AUDUSD bounces off the 100 hour MA for the 3rd day in a row

The AUDUSD traded at the week’s low on Monday in the 1st hour of buying and selling at 0.63706. The value moved sharply larger on that day, however by Wednesday, the value had rotated again down towards the lows into a swing space between 0.63791 and 0.63874. Support patrons got here in in opposition to that degree and pushed the value again to the upside.

In the rebound, the AUDUSD value moved again above its 100 and 200 hour transferring averages (blue and inexperienced traces in the chart under). On Wednesday, the value held help on a dip in opposition to that key 100 hour transferring common conserving the patrons in play/in management.

On Thursday, the value low held help in opposition to its 100 hour transferring common once more, and as we speak in the present hourly bar, the value as soon as once more held above the 100 hour transferring common.

That is three consecutive “holds” in opposition to the 100 hour transferring common for the AUDUSD merchants. The patrons are clinging to manage above that degree.

Going ahead if the value had been to remain above that transferring common degree, there’s resistance up close to 0.6453 – 0.64607. Move above that and one other swing space between 0.6480 and 0.6487 could be focused (see crimson numbered circles), adopted by the triple highs from August and early September at 0.65216 (see blue numbered circles).

Conversely, break under the 100 hour transferring common, and the bias turns extra to the draw back with the 200 hour transferring common (inexperienced line in the chart under) at 0.64086 as the subsequent goal. That 200 hour transferring common was damaged on Wednesday and held help on a dip on Wednesday as nicely.

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Breaking under it might put the sellers in agency management.

AUDUSD holds the 100 hour MA for the 3rd consecutive day</p>
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