Tests MA /prior high
The dollar is pipping a bit higher as the NY afternoon continues and that has the AUDUSD down testing the 100 bar MA at 0.76659 level (blue line in the chart below).
Ryan's earlier post says it all about this pair, but if I can add some short term technical color to his picture, this is a support level that traders who are long would like to see hold and build from. Not only was this MA (along with the 200 bar MA) used to base from before the march to the day highs, but it also is near the Asian Pacific session high at the 0.76636 level and the 38.2% of the days trading range at 0.7661.
A move below does not fully kill the bullishness (we have had some nice basing against the 100 hour MA today and yesterday), but it does take some of the bullishness away from today's price action higher.
Holding the level will have traders looking for a move back above the 0.7671-73 area (high from yesterday and earlier today).
