Forex technical analysis: AUDUSD sees a little upside move after China data
China shows strong imports and exports.
The AUDUSD is seeing a little upside move after the China trade data.
Looking at the 5-minute chart above, the gain is modest, but the price has moved above the 100 bar MA and has tested the 200 bar MA (blue and green lines in the chart above). The 200 bar MA comes in at 0.75152. The 100 bar MA come sin at 0.7509.
Now, the modest move higher is just testing the 200 bar MA bar MA. The price has not gotten above it, but on a break above, there could/should be some momentum.
The price trended below that MA all day yesterday (and going back into Wednesday too).
Be aware. Look for a potential break.