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AUDUSD working to break the down streak

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Losing streak at 12 days down

The AUDUSD is working on breaking the down streak for the pair. The price has been down 12 days in a row.  The price is up 31 pips today at 0.6787 (close at 0.6756).  The RBA kept rates unchanged today after cutting rates in June and July. The central bank is still expected to keep the easing bias in 2019.

Although higher, the pair has a key trend line and 100 hour MA at 0.6805-08 area. The high today reached 0.6801 before stalling.  Those levels will be key barometers for the bulls/bears going forward.  Stay below, and the bears remain in control. Move above and more corrective action may be in store for the pair.

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