AUD/USD finds support at moving averages on the daily chart
The pair is trading in a tight range so far today - as with most other major currencies - with a high of 0.7799 and a low of 0.7781, a mere 18 pips range.
But for now, the pair is finding some support at the 100 and 200-day MAs (red and blue lines respectively) @ 0.7775 and 0.7784 respectively. It's been a case of narrow trading ranges as we build towards the European session, nothing all too surprising.
However, on the topside do look out for the 0.7800 level as there is a large option expiry sitting there as Eamonn pointed out earlier. That could put a cap on any upside movement for the time being, and will be a key area of interest in European trading later.
