AUDUSD tests cluster of technical levels

Technical Analysis

Author: Greg Michalowski | audusd

100 and 200 hour MA, 200 day MA, 38.2% retracement in the 0.77856-92 area


While the NZDUSD makes a break, another commodity currency is down testing a cluster of support defined by the 100/200 hour MA, the 200 day MA, and the 38.2% retracement at 0.77856-92 area. Yesterday, the area stalled the fall. 

Key level for bullish and bearish bias going forward today. 

Buyers should come in as there is a lot of technical reasons. However, I would expect the longs will be keeping a close eye on the level.  Move below and the buyers could easily shift to sellers. 
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