Commodities higher
Oil, Gold, the CRB index are all higher on the day and we are seeing a corresponding move higher in the AUDUSD. The pair is trading at session highs and is testing the 100 hour MA at the 0.7688 level. There should be sellers against the level on the test with stops on a move above. The next target on the topside will look to breach the 50% of the move down at 0.76954. A move above that level should have traders looking toward the 0.7722 level. Close support on a move lower now comes in at 0.7670-76. (lows in Asia came in around 0.7670).