AUDUSD tests key 100 day and 200 hour 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 is testing its 100 day moving average and 200 hour moving average. Both key moving averages are near 0.6687.

A break below would increase the bearish bias and have traders looking down toward the 0.6634 – 0.66502 area is the next key downside target.

Dip buyers leaned against the level would still need a new move back above the 100 hour moving average - and stay above. That moving average is between a swing area from 0.67168 to 0.67294.

Key test on the downside.