The AUDUSD is making another break of the 100 day MA.
From the earlier video, I spoke of the MA and how after the failed break below the key MA yesterday, traders often come in against the level on the retest. See 6:45 point in the video below.
That is what happened earlier in the session and the price rotated higher. The move to the upside retested a short term resistance target at 0.6833. That level held too.
The AUDUSD price has since rotated back to the downside and is cracking below the 100 day moving average is London/European traders look to exit for the day. The low from yesterday has also been broken at 0.6794.
Sellers are making a play. The 200 day moving average is now close resistance. Stay below is more bearish.
Looking at the daily chart, the 38.2% retracement of the move up from the October low is the next target at 0.67798. Break below that level and it opens the door for potential move toward the 100 day moving average of 0.67181.
