forex.pm forex forum binary options trade - AUDUSD cracks below its 200 day moving average

AUDUSD fell below its 200 day moving average


The AUDUSD has just cracked below its 200 day moving average at 0.72926. The fall back below the level is the first since March 17. The move above the 200 day moving average on that they sent the price sharply higher, with the pair peaking at 0.76607. Since then the price has fallen 9 of 13 trading days.
The rising 100 day moving average at 0.7262 is now the next target. The current price trades at 0.7279.
Drilling all the way to the five minute chart below, the price of the AUDUSD has been trending lower since breaking below the near converged moving averages yesterday up near 0.7440 (see the higher blue and green lines in the chart below). After a retest of those moving averages held resistance yesterday, the price fell sharply to the downside taking out the 200  and 100 hour moving averages in the process.
In trading today, the falling 100 bar moving average on the 5 minute chart was tested in the Asian session, but sellers leaned once again and pushed/trended the price to the downside.
On the break of the  200 day moving average, that level is now close resistance at 0.72924. On a move back above, the falling 100 bar moving average on the five minute chart would be the next upside target to get to and through if the buyers are to show that they can take back even the smallest amount control from the sellers. That moving average currently comes in at 0.7308 (and moving lower).
Absent those moves, and the buyers are not winning. The sellers still hold control.


   
    AUDUSD stays below its 100 bar moving average