AUDUSD finds support at 100-bar MA on 4-hour chart, eyes break of last week’s high ...Middle East

Importantly, the recent rally began after last Monday’s tumble found firm support at the key swing area between 0.6355 to 0.6372 (see red number circles). That area attracted buyers, sparking a reversal that saw the price move back above both the 200-bar moving average (green line) and the 100-bar MA (blue line). That double MA break added to the bullish tilt and gives the buyers control

Support: 0.65025 (100-bar MA on H4)

Topside target: 0.6586 (trend line resistance)

Buyers remain in control above the moving averages, with upside targets in focus as long as 0.65025 holds.

This article was written by Greg Michalowski at www.forexlive.com.

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