AUD/USD pushes for a break of the 200-hour moving average
Risk sentiment remains buoyant and European stocks will only serve to confirm the bullish mood in the equities space today, more so after Italy's government is reported to show willingness to offer concessions in budget discussions with the European Commission.
That is helping to lend a hand for the aussie and kiwi to push higher and AUD/USD buyers are now looking to recapture the near-term bullish bias in the pair by threatening a break of the 200-hour MA (blue line) @ 0.7261.
The dollar meanwhile is struggling as risk improves and the mood will only help to push AUD/USD higher as long as risk remains the key focus in trading. There is some resistance to be had around 0.7272-77 but the key will be to watch out for that 0.7300 handle.
Looking at the bigger picture:
Price is looking to climb back above the 100-day MA (red line) now and that will be a good "win" for buyers. But key resistance still lies around the 0.7300 handle as well as the September high @ 0.7315. Given that, gains are looking to be limited unless the aussie can find more good news to support it or the dollar capitulates as we approach year-end.
