Trend line cuts across at 0.7577. The low reached 0.7575

Be aware.

The AUDUSD reached to the lowest level since July 7th but at the lows, the pair was testing a key trend line connecting lows from December and May. That line cuts across at 0.7577. The low today reached 0.7575 in the Asian session. Retested that level 5 or so hours later, and have just moved to a low of 0.7580.

So the line is getting it's share of tests today with the current run, the third.

Will the level hold again? Look for traders to do lean with stops below. You can't ignore the line.

Fundamentally, the wage data for the quarter came in less than expectations at 0.5% vs 0.7%. That sent the pair screaming lowr. The NY session spike took the price back above yesterday's lows but not quite back to the closing levels. So you can't say there is lots of reasons to be excited about the upside EXCEPT the key support. Risk is defined and limited as a result.