February 3, 2023

Forex Solution

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AUDUSD moves above 100 hour MA and 200 day MA

1 min read

Seeing some momentum above the MA levels

The AUDUSD has moved above the 100 hour MA at 0.7543 and the 200 day MA at 0.75513. The breaks back above each of those MAs has tilted the technical bias to the upside.  The next target comes at the 38.2% of the move down from last week’s high at 0.75712. A move above that would have traders targeting a swing area between 0.75918 to 0.76014 (see blue numbered circles).  

Seeing some momentum above the MA levels

With both the 200 day MA and 100 hour MA being broken, it will take a move below those MAs to hurt the tilt to the upside on the break above.  
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