The sellers in the AUDUSD are making a play with a move below the 200 and 100 bar moving averages on the 4 hour chart in early US trading (see blue and green lines on the chart below).
Admittedly, the price has been trading above and below that moving average over the last few trading weeks at different times shifting the bias on the breaks. Nevertheless, if the price can stay below the 100 bar moving average of 0.6426 and the 200 bar moving average at 0.6440, the sellers would own the technical bias.
On the downside, there is interim support down to the 0.6401 level. Below that is a swing area between 0.6379 and 0.6387 the head of the extreme low from early September at 0.63567.
This article was written by Greg Michalowski at www.forexlive.com. Source