The AUDUSD has been rebounding since the low on July 14 and has moved up to test the 38.2% of the 2022 range on the daily chart.

The hourly chart has shown some up and down volatility of late but some bullish buying tendencies.

The 5-minute correction today held the 50% but is stalling at a ceiling for the day.

What does the combined story tell us regarding bias and risk?

The AUDUSD is moving toward 38.2% target of the 2022 range