AUDUSD trades above the 0.7000 level

AUDUSD hourly chart.

The AUDUSD has continued the bullish run higher today.

Looking at the hourly chart above, the pair is now trading above a steeper trend line at 0.6993, and also away from a lower trend line at 0.6982. It will take moves below those trend lines, to tilt some of the bias back to the downside.

Below those lines, the 100 hour MA lags behind at 0. 69678,

On the topside, it is not all bulllish. The pairs upside is being capped near a flatter trend line since the high yesterday. If that is broken, the next target will come in at 0.7018.

Taking a broader look at the daily chart, the 50% of the move down from the April high comes in at 0.70178 (near the hourly trend line). That is also joined by the swing highs from May and June 7th. They come in at 0.70179 and 0.70216 respectively.

AUDUSD on the daily chart