AUDUSD moves back down to retest the broken 100 day MA | Forexlive

The AUDUSD traded above and below the 100 day MA yesterday, and in the Asian session today, the price actio saw a similar dip below that MA, before extending to the upside.

The high price for the AUDUSD was reached after the PPI data gave the dollar another push lower, but buyers turned to sellers, and the price fell back to the 100 day MA at 0.66985. The low reached 0.67045 – within about 8-9 basis points of the area.

The price is back at 0.6727.

The 100 day MA remains a key barometer. Now that the level was broken to the upside with more momentum, it is time for the buyers to stand on their own two feet and hold support.

If it fails, I would expect buyers to turn to sellers. The 0.6650 to 0.66698 would be the next downside target. The 50% of the range since the August high is in that area at 0.66529 increasing the area importance.

US stocks remain higher on the day and are off the early intraday lows. If stocks move higher, they tend to help the AUDUSD:

Dow is up 326 points. The index was up 450 points at the high and up 219 points at the low. So it is near the middle of that range
S&P index is trading up 64 points or 1.63%. It’s high change was up 71.58 points will its low change was up 49.15 points
NASDAQ index is trading up 285 points or 2.55%. It’s high change was 296.40 points. It’s low change for the day was up 210.07 points

US yields remain down but off there lowest levels.