100 hour MA halts the rally
The AUDUSD is a bit confused. The reaction off the weaker US data was for a rise higher but it cautiously started to see sellers on fear that perhaps what is weakish news is not good for stocks and risk. Technically, the pair also found some sellers against the 100 hour MA and the 50% of the move down. Today’s rally occurred despite weaker inflation data out of China today. Yesterday trade data in China was not that great.