AUDUSD moves above 100 hour MA. Trades at session highs

Technical Analysis

Looks toward the Friday highs

The AUDUSD has moved to new session highs and in the process is moving above the 100 hour MA  at 0.71009 level.  

The pair moved lower in the early part of the session, and in the process moved below a lower trend line – briefly. That break failed and the early sellers turned around to buyers.  The price has been trending higher since that time.

The 100 hour MA stalled a corrective high on Friday. So getting above the MA line is more bullish.  Can it stay above and continue the run toward the 50% area. That is the next step, with the 0.7119 high from March 18th, also a hurdle to get through.  

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