Forex Trading: AUD/USD Finds Support @ The 100 Day MAVG
The AUD/USD pair has found support at the 100 day moving average for the last 2 sessions. The USD strength that is permeating the market place, has affected the commodity pairs less than other risk pairs, as commodity demand doesn’t seem to be subsiding even as the world operates well under capacity in most major economies. A break of the 100 day mavg would signal further USD strength and could move the pair rather easily through the 91 cent handle toward the 89.50 area.
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