100 hour MA at 0.67886
The AUDUSD spiked higher after breaking above it's 100 hour MA (blue line). The high reached the 0.68055 level. This was close to swing lows from September 5, September 6 and September 19. On September 19, the price broke lower and corrective highs stalled near the aforementioned lows from earlier in the month (see red circles)
So today's rally used those swing levels to lean against. It also has now found support buyers near the 100 hour MA too. That MA comes in at 0.67886. Do we head back below that 100 hour MA or above the swing levels above.
What might help the downside is that stocks are starting to move lower. If there is a "risk off" flow, that tends to weaken currencies like the AUD.
We currently trade at 0.67946 waiting for the next push.
