AUD/USD Tests 100 Hour Moving Average At The 0.9026 Level And Bounces. The Trend Is Your Friend

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AUD/USD Tests 100 Hour Moving Average At The 0.9026 Level And Bounces. The Trend Is Your Friend

By Greg Michalowski on October 13, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The AUDUSD corrected down to test the 100 hour MA at the 0.9025 level. The low reached 0.9032. The price has found support against the level and puts the pressure back on the shorts to prove the corrective trend down is the way to go. The price has remained above the 100 hour MA since October 5th when the price moved above the key average at the 0.8742 level. Until the level can be broken, don’t mess with the trend.

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