AUDUSD moves back above 200 day moving average

The AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar Read this Term price has moved back above its 200 day moving average. That moving average comes in at 0.68481. Recall on Wednesday the prize moved above that level but could not sustain momentum and closed lower (below the level). This is the 2nd shot helped by the falling dollar on the back of lower wage data, and sharply lower Non-manufacturing PMI data today.

The buyers have their second shot. Can they stay above this time?

Looking at the daily chart, the price was moved above the 200 day moving average (before this week) was back in June 2022. During that time, the price closed above for one single day and back below the MA level the very next day. Prior to that, the price was back above the 200 day MA for more than one day on April 21.

The high from Tuesday reached 0.68859. The high price from December reached 0.68928. The 50% retracement of the 2022 trading range comes in at 0.6915. All those are targets on further upside momentum.