Dow futures imply a -300 point decline. Nasdaq down near 3% (futures implied)
With the US stocks expected to open sharply lower (NASDAQ futures implied a decline of -3% and Dow futures are down over 300 points), the AUDUSD has dipped lower and tested its 200 hour moving average at 0.72799. The price trades between its 100 hour moving average above at 0.72971 and the 200 hour moving average.
Technically a move below the 200 hour moving average would have traders shifting the bias more to the downside.
Overall over the last 6+ trading days the pair has seen a lot of up and down trading with the low price over that period down at 0.72465 and 0.7252 (reached on September 10 and today respective), and the high price reaching 0.73443 during yesterday's trading. That is a range of less than 100 pips over the last 6+ trading days
