The AUDUSD technical story remains the same, with a negative tilt.

The AUDUSD technical story remains largely the same. The pay remains within its up-and-down trading range (see red box on the chart below) with a short-term negative bias. The negative technical bias comes because the price is below the 100 and 200 bar moving averages on the 4-hour chart between 0.6423 and 0.6436. Staying below those moving averages will keep the sellers more in control.

Having said that, the low extreme today stalled near the low extreme from last week and the low extreme from the previous week. There is a swing area between 0.6379 and 0.6387 which held support at the lows. That area (see red numbered circles on the chart below) comes ahead of the extreme low area between 0.6356 and 0.6364 reached in the 1st week of September.

So sellers remain more in control below the 100 and 200 bar moving averages. However, ultimately there needs to be a break outside of the red box to get things moving again for this currency pair.

This article was written by Greg Michalowski at Source