AUD/USD moves up to test its 100-hour moving average
The pair is currently running into a confluence of near-term support levels as the dollar keeps weaker in European morning trade amid the retreat in Treasury yields.
Of note, the pair is testing resistance from its 100-hour moving average (red line) @ 0.7715, trendline resistance @ 0.7704 and the 23.6 retracement level @ 0.7713.
Keep above those levels (in particular the former) and buyers will be able to at least wrestle back some near-term control with further resistance seen closer to 0.7755 from the 200-hour moving average (blue line).
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