AUDUSD back above the 200 hour MA

The AUDUSD has recently moved above the 200 hour MA (at 1.0422) and 50% of the decline from the March 27th high to the March 29th low (at 1.04293).

The move above these levels give the buyers added confidence, and a move toward the highs for the day cannot be ruled out. Support at 1.0418-22 now (see chart below).

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