AUDUSD extends above 50% of the 2022 trading range | Forexlive

The AUDUSD has extended higher today and in the process, moved further from the 200 day MA at 0.6845 and through the 50% of the 2022 trading range at 0.69151.That midpoint was also near the high from September 13 at 0.6916.

The Importance.

The price closed above the 200 day MA for the first time on Friday going back to June 2nd when the price closed above that MA for a single trading day. Prior to that, the price last traded above that MA for more than one day back in April 2022.

So breaking above the MA is significant, and will remain so IF the price can stay above the MA. The closer risk on the daily is the 50% and September high. That would be the best case scenario for the buyers.

On the topside, look toward 0.6966 followed by the 0.7005 high from August 26th.