AUD/USD sellers look for a break below the 200-hour moving average
The greenback is pushing a slight advance across the board and the more cautious risk mood is also pinning risk currencies lower to start the day now. AUD/USD is down to a session low of 0.7276 as such, and testing a break below its 200-hour MA (blue line).
Keep below that and the near-term bias turns more bearish with some minor support seen closer to 0.7272 before the pair looks towards the swing region around 0.7250-53 and then last week's lows closer to 0.7222.
The pair is pretty much reflecting the same kind of price action across all other dollar pairs this week, that is we saw the greenback being stretched with AUD/USD having tested last week's high of 0.7340 and kept around there but never really breaking it.
As such, amid the fading vaccine optimism, we are seeing the dollar start to come back into contention with GBP/USD also falling to test the confluence of its key near-term levels @ 1.3210-25 as pointed out earlier here.
Meanwhile, NZD/USD has slipped back to just below 0.6900 and we are seeing USD/CAD also climb back above 1.3100 and its 100-hour moving average of 1.3098.
The question now is being thrown to dollar buyers, do they have enough appetite to switch the momentum in their favour after the moves from earlier in the week?
