Moves toward 50% and 200 hour MA and finds sellers
The AUDUSD has moved higher with the price of commodities (gold, oil, CRB index are up) and a stronger stock market as well (risk on - the S&P is up 0.71% and the Nasdaq is up 0.90%).
Technically, the price has spiked on a break of the 100 hour MA at the 0.7600 level (there was a option expiration at the level but that expired at 10 AM ET). The rally has taken the pair up toward the 200 hour MA and 50% retracement at the 0.7631 area (the high reached 0.76277). The price is back down at the 0.7618 level. However, the breaks today, should keep the buyers more engaged on dips (with stops below the 0.7600 level now).
