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The AUDUSD buyers fail. Price is back below the 100 hour and 100 day MAs

The AUDUSD buyers fail.  Price is back below the 100 hour and 100 day MAs

The AUDUSD closed on Friday just above its 200 hour MA (green line in the chart above near 0.67587). A close of a week above a MA by a few pips can be misleading. It could simply be end of week position squaring. The trading price action on Monday is more important.

Today, the price opened lower and back below the 200 hour MA. The price then moved back toward the 100 day MA at 0.67486 and the 100 hour MA (currently at 0.67449). The price dipped to 0.6741 and bounced.

The Asian s... Read More

Posted: Mar 6 2023, 14:42
Author Name: forexlive
Views: 111449

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