More bullish bias on the break
The AUDUSD traded the the London session and most of the NY session between the 100 hour MA above and the 100 hour MA below (blue and green lines respectively). The price moved above the 100 hour MA in the last hourly bar and has extended the move higher in the current bar.
The next target is the swing area between 0.7755 and 0.77639. If the price is able to get above that area (see green numbered circles), the bias would be even more bullish for the pair.
Conversely a move back below the 100 hour moving average and 200 hour MA, would not be favorable for the buyers.
This article was originally published by Forexlive.com. Read the original article here.