HomeForex TradingAUDUSD bounces off the 100 hour MA for the third day in...

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

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

Within the rebound, the AUDUSD worth moved again above its 100 and 200 hour transferring averages (blue and inexperienced strains within the chart beneath). On Wednesday, the worth held assist on a dip towards that key 100 hour transferring common maintaining the consumers in play/in management.

On Thursday, the worth low held assist towards its 100 hour transferring common once more, and as we speak within the present hourly bar, the worth as soon as once more held above the 100 hour transferring common.

That’s 3 consecutive “holds” towards the 100 hour transferring common for the AUDUSD merchants. The consumers are clinging to manage above that stage.

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

Conversely, break beneath the 100 hour transferring common, and the bias turns extra to the draw back with the 200 hour transferring common (inexperienced line within the chart beneath) at 0.64086 as the following goal. That 200 hour transferring common was damaged on Wednesday and held assist on a dip on Wednesday as properly.

Breaking beneath it will put the sellers in agency management.

AUDUSD holds the 100 hour MA for the third consecutive day

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