| The AUDUSD has been stepping lower since peaking last week. The corrective moves higher have been finding willing sellers against the falling 100 hour moving average. That has kept the sellers more in control. In trading yesterday and again today the price moved up toward that moving average and found sellers giving them the go-ahead to take the price lower from a technical perspective. The low price just extended below the early May low but only by a pip of so. Can sellers keep the pressure on and move toward the swing lows from the end of April near 0.6594? That is the next target. Resistance/risk for shorts comes between 0.6618 and 0.6625 |
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