AUDUSD tilts bias to the downside as dollar buying pushes the pair below hourly MAs

The AUDUSD is tilting its short-term technical bias to the downside on a move back below its 100 and 200 hour moving averages. Those levels come in at 0.64319 and 0.6423. Moving below those levels increases the bearish bias. It would take a move above each to tilt bias back to the upside.

On the downside, the low prices over the last few weeks are the next targets. The 0.6400 is the 1st target to get to and through, followed by swing lows from August at 0.6387, 0.6379, and the low for the month – and the year – at 0.6363. Get below that level, and the price is trading at its lowest level since November.

This article was written by Greg Michalowski at Source