AUDUSD steps its way down this week. Technicals lead the way lower.

The AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar Read this Term started to show cracks in its bullish bias last Friday, and that crack led to a bigger and bigger move as technical levels were taken out one by one.

First, it was the 100-hour moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term (higher blue line) and channel trendline. That led to a break of the 200-hour moving average. The price traded up and down on parts of Tuesday, Wednesday and Thursday, but kept mostly below the 200-hour moving average on moves higher. In trading today, the price has tumbled below the:

• 38.2% retracement of the move up from the May 31 low,
• 100-day moving average of 0.6713,
• 200-day moving average at 0.66913, and more recently the
• 50% midpoint of the essay move higher at 0.66785

Sellers keep on pushing.

What would ruin the bearish bias now?

Getting back above the 200-day moving average at 0.66913 and the 100-day moving average of 0.6713 would give buyers some hope. Absent that and sellers would look to target a swing area between 0.6637 and 0.6643, followed by the 61.8% retracement of the move up from the May 31 low at 0.6626 as a next major target.