AUDUSD moved above the 100-hour moving average of 0.66485. This is the first trade above this moving average since the dip below on June 20. The price also moved above the broken swing area between 0.6637 and 0.6652. This area is now a close support for buyers looking for more benefits. Go back below and the salespeople are back in the driver’s seat

On the upside, the broken 50% midpoint of the upside range since May 31 comes in at 0.66785 and is further upside.

Above that is a cluster of moving averages starting with:

  • 200-day moving average 0.66904,
  • 200 hour moving average at 0.6696 and
  • 100 day moving average 0.66994

This area will be a key resistance target area that should attract sellers in the test. I would expect vendors to lean in when testing.

AUDUSD is above the 100 hour MA

Next week (Wednesday in Australia) the RBA will announce its latest rate decision. Expectations are a little mixed with a tilt in favor of no change at 4.10% versus a 25 basis point increase.

What is the price?

See Justin’s post:

What is the price for next week’s RBA

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