The AUDUSD ran higher last week congruent with the run lower in the USD. The move to the upside saw the pair run up to test the 100 day MA (blue line in the chart above) and that gave traders some cause for pause. The price consolidated above and below the MA into the weekend.
Today, that consolidation above and below the 100 day MA has continued. However, on the downside, the low did hold against close swing area support between 0.66569 and 0.66782. The lows have been around the 0.6662 ahead of the low of that swing area (see green numbered circles on the chart below).
Clearly, the AUDUSD is respecting the 100 day MA but is not going far from the MA level - at least yet. The market is also still waiting for the next shove. The levels are set however. Patience.
