AUDUSD has that "risk on" feeling

The AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar Read this Term is continuing it's run to the upside and is now breaking above its 100 hour moving average at 0.7258 and also moving above its 50% midpoint of the move down from the March 10 high at 0.72657.

Earlier today, the price moved back above its 100 day moving average at 0.72173, and then based/launched off of that level.

Buyers have been spurred on by China government and central bank comments earlier today that they would support the economy/stock market Stock Market A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don Read this Term. Shares like Alibaba, Tencent are up strongly in the US (up 17.5% and 19.8% respectively). As a result of the AUDUSD has that "risk-on" feeling today.

On further momentum, the falling 200 hour moving average is up at 0.7293. That is just above the 61.8% retracement of the move down from the March 10 high.

The best case scenario for the buyers is the price now stays above the 100 hour MA (give or take). More conservative risk would be at the 38.2% at 0.72419.