100 day MA at 0.77255. Swing area at 0.77298 to 0.77364

The AUDUSD moved down to 0.77306. That is near a swing area between 0.77298 and 0.77364.  That is also near the 100 day MA at 0.77255. The low yesterday reached 0.77324 and bounced.  Have we bottomed? Do we get a bounce of the support swing area again (and ahead of the 100 day MA)?

If we can stay above that area and get back above the 100 and 200 hour MAs at 0.77259 and 0.77591, the buyers take more control again.  

So a battle has begun. 

 Support lows at 0.77255 (100 day MA) and 0.77298 (low swing level), and resistance at the 100 and 200 hour MAs at 0.77529 and 0.77591. 

Invest in yourself. See our forex education hub.

Source link