The AUDUSD held the 100 hour MA and 38.2% on the last dip and this could be a signal for the bulls. The pair was initially propelled higher over the weekend (gap over the weekend) on the better than expected Chinese PMI. However,the price started to step down in asia and the London AM.

Now, the move back above the 100 hour MA and the 38.2% retracement is a good sign for the buyers and also helps define/limit risk. A move above the 200 hour MA (green line) at the 1.0423 level currently, would help confirm the bullish bias for the pair.