The AUDUSD has tested and held the 200 hour MA for the second day in a row. This increases the importance of the MA level going forward. The market traders are paying attention to the level and using it to define risk (sell against with a likely stop above).

In the meantime, the failure to break above keeps the price in between the 100 and 200 hour MA (Trading between the Goal Post as defined by the two MAs).  The 100 hour MA (blue line) comes in at the 1.00448 level currently.  The price has broken below this line on a few occassions in the London session but has not been able to close below. 

When the price is between the Goal Posts it says to me, the market is unsure of the next directional move.  Traders can play the range (sell against the 200/buy against the 100), but on a break (whether it be below the 100 hour MA or above the 200 hour MA) I will be looking for momentum in the direction of the move.