The AUDUSD current price is near the same level as it was 24 hours ago. And guess what, the technical levels are the same.
The price is above the 100 and 200-hour MAs. Bullish. However, the 100-day MA (today at 0.66824), the 200-day MA (today at 0.66971), the high price from last week at 0.6705), and the 38.2% retracement (the minimum retracement target). All those hurdles are in the way and would need to be broken.
Today, the buyers in the Asian Pacific session were able to get above the 100 day MA, but not the 200-day MA. Buyers turned to sellers and took the price back below the 100/200 hour MAs (which could not be sustained – UGH!).
However, with the price now back above the 100/200 hour MAs, the buyers have more control, but…. HMMMMMM… there is work to do.
By the way, the video from yesterday looks alot like the one today (except I have shorter hair today). You can watch it below:
This article was written by Greg Michalowski at www.forexlive.com. Source