AUDUSD up but not racing.

The AUDUSD has moved up but it is not racing up as the EURAUD rebounds. The weaker than expected Retail Sales has traders thinking risk off a bit it seems Nevertheless, the price is back above the 100 day MA (see blue line in the chart above) at 1.2020. The price is also above the 200 hour MA at the 1.2017 (green line in the chart below). The trade becomes simple…stay above the 1.2017-20 and the bias is bullish. Move below and the bias shifts back to the downside.