The US stocks are trading higher in premarket activity. US yields are moving lower. As a result there is some rotation into the risk-on currency pairs today including the AUDUSD.
Looking at the AUDUSD it has moved above its 100 hour moving average of the last hour so of trading. That 100 hour moving average comes in at 0.6457 level. The current prices trading near the high for the day at 0.6484. On the topside the falling 200 hour moving average cuts across at 0.65137. The price has not traded above its 200 hour moving average since September 13.
Risk for longs on the break with momentum below the 100 hour MA at 0.6457.
Buyers are making a play as risk-on flows are in play.
The Reserve Bank of Australia is expected to raise rates to 2.85% from 2.35% in the new trading day tomorrow (at 11:30 PM ET today). The Reserve Bank of Australia 1st raise rates in May from 0.0%..
The Dow futures are up around 355 points. The NASDAQ futures are currently up 82 points, while the S&P futures are up near 40 points ahead of the open.