Seems like a flow move...

The AUDUSD surged higher in the minutes just before the London fixing. The price moved up from a low of 0.7447 to a high of 0.7483. The high stalled just below the high for the day at 0.74847. The 100 and 200 bar MA on the 5-minute chart comes in at 0.7469-70. Will those MA hold on the retracement?

For the week, the AUDUSD fell from a gap high on Monday (after the French election). The high stalled against trend line resistance and support levels started to be taken out to the downside.

The low was reached yesterday. Today, there was a higher low.

The spike higher has moved the price back above the swing lows from April 10 to April 12 at 0.7472-75. The 0.7490 swing level and the 38.2% retracement at 0.7495 are other targets on the topside now.