The 100 day MA is now the lower bias barometer
Like all the pairs today, the AUDUSD has had it's share of ups and downs.
At the lows, the 100 hour MA did a good job of stalling the fall.
At the highs, the pair moved above a interim swing area in just above 0.7200 (0.72019 to 0.72083). The price moved to 0.72211 but failed to reach the October high from October 9 at 0.72423,
More recently, the price has latched onto the 100 day MA at 0.71187 as support. Stay above, and the buyers remain in control. Move below and the 50% at 0.71056, the 200 hour MA at 0.7087 and the 100 hour MA at 0.70638.
On the topside, the 0.7174 was the high from yesterday. The most recent swing high today stalled just ahead of that level (high reached 0.71727). Get above is more bullish technically.
Stocks are continuing to soar with the NASDAQ leading the way with a gain of 425 points or 3.81% at 11586. The S&P index is up 2.69%. The Dow industrial average is up 1.95%.
