100 and 200 hour MA at 0.72995 to 0.72882 respectively
The AUDUSD was up testing its swing highs from November 9 and November 17 near 0.73392 . The high price reached 0.73367.
Sellers leaned against the level and stalled the rally. The shift back into dollar buying has since sent the price tumbling lower. The price has now cracked below its 100 hour moving average (blue line at 0.72995). That moving average in the early hours of trading today. The subsequent fall took the price below its 200 hour moving average (green line) at 0.72882.
The price fell to test a lower trend line at 0.72699. A move below that level would target the low from last week at 0.72539.
With volatile market conditions, the 200 and 100 hour moving averages are now resistance. Having the 100 hour moving average just below the 0.7300 level adds another level of natural resistance. Stay below that area keeps the bears more in control as the price continues its ups and downs for this pair.
PS. the pair is now in day 13 with the price between 0.7221 to 0.73392.
