Some corrective signals but cannot get and stay above the 100 hour MA
The AUDUSD traded below the 50% retracement of the 2016 trading range yesterday at 0.7330. That breach should have sent the pair lower, and it did briefly, but the pairs price rebounded above the level toward the end of the Asian Pacific session and has ratcheted higher since that time. The break was a failure and the sellers that have pushed the price lower, started to cover modestly.