The AUDUSD has fallen below the 200 bar MA on the 4-hour chart at 0.67813 and also the 50% midpoint of the move up from the September low (also at that level). The fall below that level has led to more selling with the pair moving toward a swing area between 0.67487 and 0.67604.
Getting below that swing area, and also the 61.8% retracement of the same move higher from the September low at 0.67436 would open the door for further selling momentum, and give the sellers more control.
This article was written by Greg Michalowski at www.forexlive.com.
