AUDUSD moves higher after softer ISM data, and towards a key cluster of moving averages.

The AUDUSD moved above a key target resistance level at 0.6523 after the weaker than expected nonmanufacturing ISM data.

The move to the upside has now taken the price up toward a cluster of moving averages including the 200-day moving average at 0.6543, the 100 and 200 or moving averages on the 4-hour chart at 0.6546.

It would take a move about all those moving averages to increase the bullish bias. Alternatively, sellers could lean against the area on hopes of a rotation back lower with a stop on a break above.

In this video out when the technicals from the price action. Be aware. Be prepared.

This article was written by Greg Michalowski at Source