100 day MA being tested again
The AUDUSD is returning to familiar support area. That being against the 100 day MA.
Since August, the 100 day MA (blue line in the chart above) has been tested 4 other times and each has found support buyers. The last was just yesterday. The price got to within 7 pips of the MA level before pushing back higher.
The 100 day MA comes in at 0.74819 today The low has reached 0.74909. Early buyers are leaning with stops likely on a break below. Stocks are under pressure today and that is hurting this pair (and other risk pairs) but risk can be defined and limited and it has proven to be a level where traders gather and buy.
