Pair has been trending higher since December 8th
The AUDUSD is showing a bearish technical clue today which may lead to more of a corrective price action (at least in the short term).
Looking at the hourly chart below, the moved below a trend lined and the 100 hour MA at the 0.78405 area. Admittedly, the price has waffled back and forth over the last 10 or so trading hours with the highs at 0.7842 and the low at 0.78266. So the price is not running.
However, the pair may be "slow playing" the bearish move too. If the price starts to build more value above the 0.78405 area, get out - all bearish bets are off. However, if the price stays below that area, the 200 hour MA (green line) will be the next key downside target at 0.7811. Get below it, and a move back toward the 100 day MA at 0.77696 would be a target to aspire towards.
We will see, but the pair is showing some signs of a potential corrective move and risk can be defined. Risk can be limited.
