100 hour MA and 200 day MA both in play at 0.7256-58
Decision time for the AUDUSD.
The pair is up testing it's 100 hour MA at the 0.7258. The 200 day MA is also in play at 0.7256. Key area for the pair.
ON Wednesday last week, there was a break below the 100 hour MA. the price tested the 200 day MA, moved back for a final retest of the 100 hour MA, before the push to session lows (200 day MA overlay is the green step line in the chart above).
The bottom was formed at 0.7175 and after corrective move lower on Friday, the AUDUSD is moving back higher to test the MA levels at 0.7256 (for the 200 day MA) and 0.7258 (for the 100 hour MA).
Break or stall?
Earlier today there was talk of option related selling at 0.7250. That is now broken opening up the upside for this test.
