The AUDUSD has continued its run to the downside in trading today, and in the process broke below a 100-day moving average of 0.6607, and moved down to test the 200-day moving average at 0.6582. Also in play on the downside is the 50% midpoint of the move up from the April low. That level comes in at 0.65797. A swing area between 0.6575 and 0.6590 was also tested at session lows today.
The price has bounced off its 200-day moving average and is back up testing the 100-day moving average (at 0.6607). Getting above that level and staying above that level could see more upside probing (up to 0.6628 area)
This article was written by Greg Michalowski at www.forexlive.com.
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