Trades above 100 day MA
The EURUSD is breaking back above the 1.1376-86 area> the AUDUSD is trading to new session lows. The EURAUD is on the move.
Indeed, the pair is trading near session highs and in the process, has moved above the 100 day MA at 1.5164. The price tested that MA on Tuesday and fell back down. The move above today is a more bullish. The 200 day MA is at 1.5268 and would be the next upside target off this chart - if the broken 100 day MA can stay broken....
Looking at the 4-hour chart, the low price today held the 200 bar MA like a charm and that provided the springboard for further advancements today the move above the 200 day moving average. Also took the price above topside trendline and the 38.2% retracement of the move down at the 1.51509 level. Risk for longs is now the 100 day MA. The price needs to stay above that level to keep the buyers fully in control.
