AUDUSD tests cluster of technical levels
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.