1st time above 200 hour moving average since January 27
The AUDUSD is trading to a new session high and in the process has moved above the high from yesterday, the 38.2% retracement and the 200 hour moving average (green line) all around the 0.7645 area (give or take a pip). Bullish.
The price move above the 200 hour moving averages the 1st since January 27.
If the price can stay above, the next target comes in at 0.76614. That level is home to the high prices from Monday and Tuesday (highs for the week). The low for the week was on Tuesday as well at 0.75633. That low tested a trendline on the hourly chart connecting the lows from January 18 and January 28 (see blue numbered circles) . Overall the range for the week is still less than 100 pips which is near lower extremes recently.