Technical Analysis

AUDUSD moves back above 200 day moving average


AUDUSD moves above the 200 day MA

The buyers have their second shot. Can they stay above this time?

Looking at the daily chart, the price was moved above the 200 day moving average (before this week) was back in June 2022. During that time, the price closed above for one single day and back below the MA level the very next day. Prior to that, the price was back above the 200 day MA for more than one day on April 21.

The high from Tuesday reached 0.68859. The high price from December reached 0.68928. The 50% retracement of the 2022 trading range comes in at 0.6915. All those are targets on further upside momentum.

AUDUSD moves above the 200 day MA

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