Moves toward a test of the 2016 high price too
The AUDUSD is trading at the session lows and in the process is moving toward last Friday's low and a retest of the 2016 high price from April 2016 at 0.7834. The low has just reached 0.7844. The low last week reached 0.7838. The high price from July 9th week reached 0.7833.
Look for buyers to lean against the support level with stops on a break below.
Drilling to the 5 minute chart below, the pair has stayed below the 100 bar MA since breaking earlier in the day. At the high price today, the pair stalled at the 200 hour MA before moving lower (bearish).
In the new trading day, the Monetary Policy Meeting minutes will be released.
