AUD/USD buyers look to take another shot at the key hourly moving averages
AUD/USD is now trading to session highs for the day as the dollar is giving up gains as we see US futures also pare losses ahead of European trading.
The pair is now up to a high of 0.6337 and is looking to keep above the 100-hour MA (red line) @ 0.6329 with the key level to watch being the 200-hour MA (blue line) @ 0.6344.
The latter helped to limit gains in trading yesterday as we saw buyers twice try to break above that but ultimately fail. Hence, that is the key line in the sand to watch out for now.
The dollar is keeping slightly weaker as we see EUR/USD move up to 1.0829 and cable is also trading to a session high at 1.2370.
