The AUDUSD is pressing to new lows as the North American session closes and the Asian Pacific session begins. The latest drop pushed the pair below a key confluence of support — the swing area between 0.6588–0.6598, the 38.2% retracement at 0.6595, and the 200-hour moving average at 0.6588. That zone, now broken, shifts into near-term resistance, and staying below it keeps the bias tilted more bearish.
On the downside, the next focus is the 50% retracement and swing area near 0.6560, followed by the 100-day moving average at 0.6527. These levels mark the next checkpoints for sellers aiming to extend control.
The video above talks to the technicals in more detail.
This article was written by Greg Michalowski at investinglive.com.