Risk on is on
The AUDUSD is trading to new session highs as there is a feeling of "risk on" in the holiday trading today. US stocks are expected to open with strong gains. The China talks are progressing in the US (no trade war, just a trade dispute).
The pair moved above at trend line at 0.7533 on the move higher. Earlier in the day, the pair based near the 100 and 200 hour MAs (see blue and green lines in chart above)
The pair has swing highs to target next at 0.75487 and then the high from May 4 near 0.7560. The high for the month moved to 0.756663.
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