AUDUSD is higher after the US jobs report, but stalls at a key ceiling. What is the next step technically?
![AUDUSD is higher after the US jobs report, but stalls at a key ceiling. What is the next step technically? AUDUSD is higher after the US jobs report, but stalls at a key ceiling. What is the next step technically?](https://i0.wp.com/images.forexlive.com/fl-static/fl-thumbnail.jpg?w=760&resize=760,400&ssl=1)
AUDUSD rose sharply after the release of the US jobs report. The price gains took the pair above the 100-day moving average at 0.6580, half the decline from the December high at 0.66159 and up to the ceiling of the key swing zone between 0.6335 and 0.6345. Sellers leaned against this ceiling and pushed the price lower.
The decline has now returned below the 50% midpoint, but remains above the 100-day moving average.
Today and next week, the 100-day moving average will be a key support level. I would expect that even in the event of a larger decline, buyers would build on this level, at least at first glance. On the higher side, the cap remains a hard cap (by definition) if buyers want to take more of the control they need to reach and stay above that level.
Between sets 50% of the midpoint of the decline from the December high. This should serve as a rudder for both bulls and bears in the near term.
The technical levels are therefore set and should constitute the roadmap for the future.
cnbctv18-forexlive