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AUDUSD runs higher helped by risk-on flows

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The AUDUSD is certainly trending more significant in trading right now, with little in the form of corrective price measures.Considering the 5-min chart, the largest pause/correction intraday occured inside the European morning time when the price tag got to the 200 hour or so MA (overlay at 0.6964). The purchase price corrected lower and got into in to the 38.2-50% of the final leg bigger (see yellow spot between 0.64499 and 0.69547). Even so, buyers came up in, the purchase price started a new run to the upside away from the 200 hour MA.Since then, the pair has been stepping higher within an upward sloping channel. In the short term, it would take a move below the lower trend line on the chart above and then the 38.2% -50% of the current leg higher between 0.6977 and 0.6983 to hurt the trend move higher today. On the topside the high channel level comes in at 0.7005 and moving higher. A move above that upper extreme woujld increase the bullish bias intraday and accelerate the upside momentum. On the hourly chart the pairs run higher shows the monentum higher. The next targets on more run to the upside looks toward 0.7030 to 0.70344 followed by the high from last week at 0.70464.Helping the trends is higher stocks and lower rates:Dow 0.81%S

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