AUDUSD falls to lowest level since July 11th

Takes out double bottom from October and November

The AUDUSD has taken out the double bottom from October and November at 0.76245-26 THe and trades at the lowest level since July 11. Earlier in the day the corrective move higher stalled at the 100 hour MA (blue line in the chart below). That has given sellers more confidence to explore the downside.

Targets now come in at 0.7600-10 and then the trend line on the daily chart at 0.7571 level.