AUDUSD back above the 200 bar MA on the 4-hour chart
The AUDUSD held support ahead of the 38.2% on the correction lower in the early NY session against th 0.64545 level. I outlined that level in the video here:
The subsequent move back above the 200 ba MA on the 4 hour chart at 0.6482 has increased the bullish bias and moves the risk level for longs to that area now. Stay above and the buyers are in control and making a play for more upside.
The next key target will be eyed in the 0.6531 to 0.65466 swing area. Within that area is the 50% of the move down from the September 12 high. That retracement is joined by the ceiling defined from September 26 to October 6th. That should be a tough nut to crack. A move above would likely find stops on the break.
