AUDUSD dips below 200 hour MA. Test lows for the day

The AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar Read this Term is back down, retesting/dipping below the 200 hour MA at 0.67602.

Earlier today, in the early Asian hours, the price dipped to that MA on China concerns but found support buyers. The move back higher extended back above a swing area betwee 0.6778 and 0.6782, but fell short of a downward sloping trend line and has rotated lower over the last 3-4 hours of trading.

The low reached 0.6759 which was short of the Asian low at 0.67565.

The price is back above the MA at 0.6765.

US stocks are higher with futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term implying S&P up 15.5 points. The Dow is up 110 points. The Nasdaq is up 41 points. So there is no risk off selling. US yields are lower with 10 year down -2.9 bps. The 2 year is near unchanged.

It seems to be just up and down flows, but if the 100 hour MA is broken on the downside at 0.67425, it would shift more of the bias to the downside. The downward sloping trend line on the hour comes in at 0.6805 (and moving lower).