The AUDUSD has reversed higher. The pair dipped below the 100 hour MA at the 1.0407 level (low 1.0401) and the price has reversed higher. In the process the price moves above the midpoint of the move down from the September 21 high at 1.0422 and the trend line off the highs from the September 14 and September 21 highs. Finally, the price has moved above the 200 hour MA at the 1.0428 level. This level is now support for the pair (down to 1.0422). Look for buyers against this level now as the longs have shown their hands.
The pair had the opportunity to go lower on the move back below the 100 hour MA. It did not and instead had the buyers overwhelm the sellers at each step of the way. They are staking their claim and exerting their control.
