December 7, 2022

Forex Solution

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AUDUSD stalls ahead of the 100 day MA

1 min read

Stays below the cluster of resistance 

The AUDUSD chopped higher in corrective price action. The high reached up to test the 100 day MA at 0.77252 and found sellers. That was the 1st of a cluster of MAs including the 200 hour MA at 0.77277, and the 100 hour MA at 0.7732. 

Stays below the cluster of resistance 

Staying below the cluster, keeps the sellers more in control.

The price has moved lower off those MA levels and is looking to test a swing area between 0.7700 and 0.77063 (see green numbered circles).   

A move below that area would increase the bearish bias for the pair with the swing low from Friday the next target at 0.76874. That lows also corresponds with the swing low going back to May 13.  
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