Back above broken trend line.
The AUDUSD has moved to a new session high as stocks rebound off session lows. The price has moved back above a broken trend line at 0.68325, and back above and away from its 38.2% of the move up from the May 15 low. That level comes in at 0.68102.
The June 4 swing lows at 0.68803 is the next upside target. Above that, and traders will be looking toward the swing low from June 9 and the falling 100 hour moving average at the 0.6898 and 0.69068 levels respectively.
