AUDUSD has benefitted by the risk on and looks toward the key 200 day MA at the 1.0247 level (green line – high reached 1.0242).  Not far higher is the 100 day MA at the 1.0272. Key target levels for trading today.  

Below, watch the 1.0216 which is the 50% of the 2012 range.  The high from June 20th reached 1.0222. Although this level is close (corrections could extend to 1.0198-087 and keep the bulls firmly in charge), if it holds the bulls are likely to squeeze the shorts more.