AUDUSD stalls at the key resistance.
The AUDUSD has stalled at the 87.07 resistance level (see prior post). Above the level is also the high from last Friday which comes in at the 0.8717 level . The high reached 0.8708.
The correction lower off the high has been able to stay above the 100 bar MA on the 5 minute chart which ultimately is the bottom side support/stop level. If this MA level can hold, it keeps the potential open for another test of the high resistance levels (0.8707/17). A move above this level would next target the 0.8747 level. The 100 hour MA (Blue line in the hourly chart). and the 50% retracement of the move down from last weeks high are both centered at that level currently.
