Breaks outside of its channel
The AUDUSD is also saying more selling as risk off trades are pressuring the pair. The price high today stalled against a topside channel trendline.
The fall has now taken the price below the lower channel trendline 0.6954. That trend line is between the 100 hour moving average (blue line) and 200 hour moving average (green line). The 100 hour moving average comes in at 0.69607 and 200 hour moving average at 0.69507.
Going forward it will take a move back above each of those moving averages to negate the bearish move seen into the US stock close. The NASDAQ index is currently trading down -223 points at 10394 (-2.09%).
