AUDUSD dips below its 100 and 200 hour moving averages

Technical Analysis

Author: Greg Michalowski | audusd

Risk off sentiment pushes the pair below the moving average levels

The AUDUSD has moved back below its 100 and 200 hour moving averages. They come in at 0.68916 and 0.68848 respectively.  Also broken was the 50% retracement which is currently at the same level of the 100 hour moving average.  Risk now for traders is a move back above those levels. Stay below and the sellers remain in control.

Risk off sentiment pushes the pair below the moving average levels
The low for the day scooted to 0.6862. We currently trade at 0.6872. 

The swing low after the comments from White House is Navarro yesterday reached 0.6857. That is the next target on further weakness followed by the underside of the broken trend line at 0.6852

For now, sellers are in control below the 100 and 200 hour moving averages.

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