Falls below 200 hour MA for first time since Oct 2
The AUDUSD is on the downside offensive, falling to new day lows. The break has also sent the pair below the 200 hour MA for the 1st times since Oct 2 at the 0.7264 level. The low price from yesterday was also at that 0.7264 level.
Technically, traders will be looking for increased downside momentum from here with the next targets being the 0.7234 area. Other support targets include the 38.2% of the move up from the September 29th low (at 0.7211) and the low from Wednesday at the 0.7197.
