Technical Analysis

AUD/USD pares early drop, 100-day moving average in focus

This comes as equities are faring slightly better to start the session with US futures also paring some of its losses from earlier. The dollar is seeing its early advance run back a little now as traders start to get settled into the new week, after a bit of a breather in Asia trading earlier in the day.

AUD/USD fell to a low of 0.6663 but is now trading back up just above 0.6700 and is looking to try and push for a firm break above its 100-day moving average (red line) at 0.6699:

That is the key level to watch for the pair as we get things going in the new week after the break above 0.6500 last week. From Friday:

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