AUDUSD pushes toward ceiling and 100 day MA. Finds sellers

The AUSUD is higher on the day and in the process has gotten closer to a topside ceiling from last week/Monday’s trading. That area comes between 0.72718 and 0.7276. The high price today just reached 0.72687 and backed off, with the current price trading at 0.7260. Note, that the 100 day moving averages also in play on the topside at 0.72848 currently. The price has not closed above the 100 day moving average since early November.

The low price today was in the late Asian/early European session. That level came in near 0.7222 which was toward the upper extreme of a swing area between 0.72121 and 0.7223.

In between the swing ceiling and the swing area below sits the near converged 100 and 200 hour moving averages at 0.7238. That level will be a barometer for buyers and sellers going forward. Stay above and traders can continue to push higher with hopes for a break of the ceiling and 100 day MA. Move below the MAs, and the sellers start to gain more control with the 0.7212 as the low to get and stay below ahead of the lows from Monday and Tuesday near 0.7183.