New lows for the AUDUSD. Moves toward 100 day MA | Forexlive

The AUDUSD is training to new lows and in the process is looking to test the December 8 low at 0.66977 (and the 0.6700 natural support level). The price moved back into the lower extreme area from early December where the price balance between 0.6668 and 0.67437. On December 12, the price briefly moved below the upper area of the extreme, but reestablished support against the area before moving higher helped by the CPI on Tuesday.

Today, the price sliced below the 100 hour moving average (blue line currently at 0.6803), and consolidated around the 200 hour moving average (green line in the chart above currently at 0.6767) before moving lower over the last three hours of trading.

Close risk for sellers is now against the swing low from December 12 at 0.6728, and then the 0.6738 – 0.67437 area (see red numbered circles). Stay below is more bearish. That upper swing area is the high of the consolidation phase in early December.

On the downside, the 100 day moving average comes in at 0.66721. Back on December 7, the price extended below that moving average level and tried to stay below but could not sustain momentum and started the run back to the upside.

Lower stocks are contributing to the risk-off sentiment in this pair (and the NZDUSD as well). The NASDAQ index is now down to 3%. The S&P index is down -2.6% and the Dow Industrial Average is down -2.4%.