Bounced off the 100 hour MA and swing area.

The AUDUSD has moved up to test the 50% midpoint of the move down from the December 13 high. That level comes in at the 0.68877 level the high price just reached 0.68876.

Bounced off the 100 hour MA and swing area.

Earlier in the New York session the pair corrected down below its 100 hour moving average (blue line in the chart above) but found support buyers against the 200 hour moving average (green line in the chart above). The last 3 hourly bars has seen the price move higher off of that support level (currently at 0.6861).

Now the 50% retracement is attracting some profit-taking's/selling. However a move above would likely increase by momentum with the 0.6900 area as the next target (the 200 day moving averages at 0.69039 currently).

Holding below the 50%, could also see buyers turn to sellers with 0.6875 and the 100 hour moving average at 0.68655 the next downside target.