The AUDUSD pair extends up toward the next resistance areas
The AUDUSD has extended toward the 200 hour MA and a topside trend at the 0.67466 area. Before that is an old floor at the 0.67384 to 0.67429 area that the price is currently testing.
Breaking above the levels would be more bullish for the pair.
On Tuesday, the price of the AUDUSD did move above the 200 hour MA briefly after the RBA rate cut, but quickly reversed. Yesterday the pair made a new low but only by a few pips. The rally was on.
Earlier today, the price was testing its 100 hour moving average (blue line) but the we can expected ISM nonmanufacturing index was the catalyst to push the price sharply higher.
Now key resistance looms. The levels are important for the bullish/bearish barometer going forward.