The AUDUSD moved lower with the overall USD buying after the tariff talks from Pres. Trump and Treasury Secretary Bessent. The price decline in the early Asian session took the price away from the swing area between 0.62874 to 0.63016, below the 100-hour MA at 0.6283 and to the 200-hour MA. Some buying at the 200 hour MA initially stalled the fall, but subsequently broke below that target increasing the bearish bias.
What next?
The 200-hour MA area is close risk for sellers looking for more downside momentum. Move below the low for the day should give sellers more confidence to push lower technically.
This article was written by Greg Michalowski at www.forexlive.com. Source