AUD/USD looking towards the 100-hour MA
The dollar is weaker across the board in Asian trading so far, but the aussie is leading the charge helped by positive economic data earlier (trade balance and building approvals).
That sees the pair jump to session highs and is looking for a test of the 100-hour MA (once again). The more recent tests failed as buyers were unable to sustain a firm break above the key near-term level.
The last time the pair actually traded above the 100-hour MA on a consistent basis was back in mid-April when it was still trading between 0.7750 and 0.7800 levels.
A firm break here will see buyers chase the next key near-term test of the 200-hour MA @ 0.7564.
