AUDUSD rebounds after buyers defend the 100-day moving average

The AUDUSD moved sharply lower following yesterday’s FOMC rate decision, but the selling momentum started to slow when the price reached an important technical support area. The decline extended to approximately 0.7078, where two key technical levels came together: The rising 100-day moving average at 0.70795 The 50% retracement of the move up from the end-of-July low at 0.70773 When different technical tools identify nearly the same price, that area tends to attract more attention from trader

The AUDUSD moved sharply lower following yesterday’s FOMC rate decision, but the selling momentum started to slow when the price reached an important technical support area. The decline extended to approximately 0.7078, where two key technical levels came together: The rising 100-day moving average at 0.70795 The 50% retracement of the move up from the end-of-July low at 0.70773 When different technical tools identify nearly the same price, that area tends to attract more attention from trader