AUDUSD falls after testing the 200 hour MA, but approaches intraday support
Written November 23, 2009 at 11:42 AM EST by Greg Michalowski
The AUDUSD moved above trendling resistance, and the 100 hour MA (blue lines in chart above) but could not gather any momentum above the 200 hour MA (green MA line) at the 0.9270 level (0.9276 was the high).
The price has come down from the high as the dollar corrects, but the price approaches the support at the 0.9244 level (100 bar MA on the 5 minute chart below). A break of this level will look to test the 100 hour MA at the 0.9226 level currently and the midpoint of the move down at the 0.9233.
Categories: Forex Trading | Tags: AUD/USD
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