AUDUSD cracks back below 200/100 hour MAs

AUDUSD back below the 200/100 hour MAs The AUDUSD is breaking to a new session low and in the process, is cracking back below both the 200 and 100 hour MAs (green and blue lines) at 0.7414 and 0.7396. The low just reached 0.7388. Recall from yesterday, the reverse happened. The price of the AUDUSD opened below the MA levels and pushed above and stayed above. In trading today, the corrective move lower in the Asian session did find early buyers against the higher 200 hour MA – keeping the buyers more in control in the short/intermediate term. At the highs today, the pair tested the high from yesterday at 0.74569 but could not push through with momentum. The last 5 or so hours has seen a run back to the downside, culminating in the break back below the MA levels. Traders will now use the higher 200 hour MA as a risk defining level. Stay below is more bearish. If there is a further momentum run lower, the 100 hour MA will assume close risk. The USD is getting a boost from a rebound in yields today. The 10 year is up 7.0 basis points to 2.906%. The 30 year is up 7.4 basis points to 2.952%. The 30 year extended above 3% for the first time in the current cycle. The high yield reached 3.03% before tumbling back to the downside.