AUDUSD trends to the downside but approaches a floor area. What next? | Forexlive

The AUDUSD corrected higher into the Asian session today, and in the process tested the 100 hour MA. Sellers leaned against the level, and has been trending the pair lower since then.

In the NY session the pair has moved below a swing area between 0.6649 and 0.66526. Stay below is more bearish going forward.

The move lower has looked to approach the March 24 low at 0.6625 in the April 10 low at 0.66186. Move below that area opens the door for further selling potential with March lows at 0.65639, and a swing area between 0.6544 and 0.65847 as the next key target.