Tumbling lower .

The AUDUSD rose on "risk on" flows yesterday after US/EU relations improved. That run higher sent the price above a swing area in the 0.7436-41 area. The high extended to 0.74637 and tried to say above, but failed. Yesterday the price moved above on the CPI data release in Australia but moved back below.

The tumble today, has gathered momentum and in the process, has moved below the 100 and 200 hour MA. The price just cracked below the 50% retracement at 0.73904 and moves toward the 61.8% at 0.7373.

The dollar is on the move against all the majors now...

  • The EURUSD is trading at the lows and tests the Tuesday lows at 1.1677.
  • The GBPUSD is testing to the 200 hour MA at 1.31249 and just holding on to that level.
  • The USDJPYis up testing the 100 hour MA at 111.159 currently.