The buyers try to push through the ceiling
The AUDUSD has tested the 200 hour MA on three straight days. Each got close to the line (see green line), with buyers leaning ahead of the level.
The run up today, first cracked above the 100 hour MA (0.73716), and then ran above the topside trend line at 0.7389. The run to the highs for the day retested the high from Monday at 0.74065 (the high reached 0.74056) and has found some resistance/ceiling sellers. It will take a move above the level – and also the swing high from September 1 not much higher at 0.74128 (see daily chart below) – to solicit more buying.
This article was originally published by Forexlive.com. Read the original article here.