AUDUSD runs higher and above swing area on daily chart
Risk on flows on the back of the higher stocks, lower yields, lower dollar. The AUD is just behind the JPY as the strongest of the currencies vs the USD. The AUDUSD is currently up around 1.87%. The JPY is up around 2.0% in volatile trading.
Looking at the daily chart of the AUDUSD, the price has moved above a swing area between 0.68284 and 0.68597 (see daily chart above). That area is now support on the daily chart. Stay above is more bullish. On the topside the next key target comes in at the 200 day MA at 0.6903. Just above that is the 50% of the 2022 trading range at 0.69151.
The current price is trading at 0.6870 just of the high price of 0.6877. Buyers are making their play.
The USDJPY meanwhile is trading below its 200 day moving average 135.265. The price has been trading above and below the level, but is back below and also below the 135.00 level. The pair is trading at 134.899 currently.