100 bar MA on the 4-hour stalled the run higher
The AUDUSD got a boost from the North Korean news.
That news pushed the price above the 200 day MA (at 0.7786), the 200 hour MA (at 0.7795) and a downward sloping trend line (currently at 0.7793 - see hourly chart above).
The run higher did have a limit. The 100 bar MA on the 4-hour chart stalled a rally back on February 27th, and today the pair also stalled the rally near 0.78387
What now?
We trade between the 200 hour MA and trend line below (support) and the 200 bar MA on the 4-hour chart above (resistance). Look for the market to trade the range for now as the market decides the next move for the pair.
