AUDUSD holds below 200 hour MA. Keeps the sellers in charge.

The AUDUSD corrected up toward the underside of broken trend line and the 200 hour MA at the 1.0052-1.0060 area and held (high reached 1.0057 – BEARISH staying below)). The price has rotated back down and stands by the 50% of the move up form the June 12th low at the 1.0034 level. The next key target below comes in at the 1.0002 level (might as well make it parity at 1.0000). The low today found buyers against the level at the 1.0007 level. I am not surprised that the 1st test, found buyers. Below that the 0.99917 is 61.8% retracement support. A break below that level should open up the downside for a more significant run to the downside.

All bets are off on a downside move if that 200 hour MA is overtaken (above 1.0060). IF the price moves above this level, shorts will become a bit more cautious.