October 23, 2015: AUD the strongest. EUR the weakest.
The AUD is the strongest currency in early NY trading today. The EUR is the weakest.
The AUDUSD has been steadily moving higher in trading today (Hmmm) and got an extra push higher on the China interest rate cut. The pair is a off the highs though. The move higher has taken the pair above the 100 hour MA (blue line in the chart below) and trend line resistance at the 0.7244 level. The next hurdle was to breach the 200 hour MA. The pair did that but corrected lower. The cut has helped to push the price back above that MA level again (green line in the chart below). This is now the support for the pair on dips today. Stay above and the buyers remain in control.
The EURUSD is taking a further tumble lower as I type and tests - is falling below now - trend line support.
