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AUDUSD Pulls Back To Support

The AUDUSD has been moving higher recently and without any resistance seen until about 1.0600, we could see this upward track continue in the coming days. Traders can watch for price action buy signals forming near the 8 / 21 day EMA support layer to trade back in-line with current uptrend in this market. Note that today price showed some rejection of support near the 8 day EMA, indicating that the uptrend could be getting ready to resume already. However, ideally we'd like to see a deeper pullback to support and then an obvious 4 hour or daily chart price action buy signal to form before entering.

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