Dollar weakening and so did the AUDUSD

The dollar is seeing weakening with the:

  • EURUSD moving above the 1.0600 level and moves toward the high from last week at 1.06175. The 100 bar MA on the 4-hour comes in at 1.06288.
  • GBPUSD is up testing the 100 hour MA and 200 hour MAs in the 1.2465-77 area
  • USDJPY moved to the 112.00 area. It is bouncing and trades at 112.14

For the AUDUSD, it has been trading in an up and down range. The current action today, did open and go below the 100 bar MA on the 4-hour chart and fail. Later the pair stalled against the 100 bar MA on the 4 hour chat at 0.7669.

The pair is up retesting the 100 and 200 hour MA at 0.76868 and 0.7690 respectively. The 0.7696 level is also being approached.

Remember that level from Feb 2 to Feb 14 when there were three swing highs against that level (see red circles at 0.7696). Earlier today we spiked above that level on the way to the session high, but the price quickly retreated back lower. Watch that 10 pip range between 0.7686-96 for potential sellers. On a break above, it should be more supportive for the pair.