High from last week reached 0.74488
The AUDUSD fell sharply in the London/European morning session. In the process the pair cracked back below its 100 and 200 hour moving averages on it's way to test a swing area at 0.7373 (see red numbered circles).
The price bounced and the last 7 hours has seen increasingly higher hourly bars. The current bar just reached up to retest of the high from last week at 0.74488 (see blue numbered circles). The high price ticked up to 0.74492 so far. That is the highest level since August 2018.
A move above the high opens the door for further upside momentum. If sellers leaned, the close from Friday's trade came in at 0.7425. Watch that level for bias clues from buyers and sellers. A move below would be more bearish. Stay above keeps the buyers firmly in control.
