AUDUSD moves higher but still below 100/200 hour MA
The AUDUSD has seen a bounce higher after a run lower in the Asian and early European session. The move lower did extend below a large-ish swing area between 0.68916 and 0.69168. However, the low could not reach a lower swing target near 0.6870.
The move back to the upside, helped by Powell comments, has pushed the pair to another swing area between 0.6949 and 0.6962. Just above that level is falling 100/200 hour MA at 0.6965.
Yesterday the price highs reached the 200 hour MA and found sellers. That was the same from June 16. Getting above the dual MAs is needed to increase the bullish bias going forward.
