AUDUSD moves above its 100-hour moving average
Right now, the aussie has managed to work its way past both the 200-hour MA (blue line) and the 100-hour MA (red line) against the dollar as buyers seize back near-term control.
In overnight trading, buyers leaned on support close to the 0.6800 handle and that has helped to provide a platform to build on a move higher in trading today.
Looking ahead, there is minor resistance around 0.6837 next with further resistance seen closer to 0.6854-57 with the 3 December high @ 0.6862 a key level to watch.
The aussie is proving to be rather resilient in the wake of weaker economic data in the past week but I would still argue that any upside remains limited.
In overnight trading, buyers leaned on support close to the 0.6800 handle and that has helped to provide a platform to build on a move higher in trading today.
Looking ahead, there is minor resistance around 0.6837 next with further resistance seen closer to 0.6854-57 with the 3 December high @ 0.6862 a key level to watch.
The aussie is proving to be rather resilient in the wake of weaker economic data in the past week but I would still argue that any upside remains limited.
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