The AUDUSD has broken below the 100 and 200 day MAs at the 1.0250-59 area (see green and blue line in the chart above) and also below 100 hour MA (at 1.0269) and channel trend line. This is suggesting a risk off bias . As long as the price stays below the 1.0250-59 area, the correction down can continue. The 38.2% of the move up from the June 28th low comes in at 1.02007. The 200 hour MA at the 1.0186 become the next target below that level. The market bullish resolve (will be tested at these levels. A move below and the risk off correction should continue.
