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200 hour MA tested
The Trump tweet about China, took the wind right out of the sails of that pair. The tumble has sent the price back down to the 200 hour MA at 0.8556 (green line). The fall has stalled against the level. The MA line is a key barometer for the bias. Stay above is more bullish for the dip buyers. Move below and bias turns more toward the bearish side (with the 100 hour MA at 0.65327 the next target) and the buyers here, are likely to give up.
The AUDUSD also fell and the price has moved back below the 38.2% and the 0.7200 level. The price will need to build back above that level to reverse the decline.
This article was originally published by Forexlive.com. Read the original article here.