AUDUSD hits a new session low and in doing so moves below a descending trendline on the 4-hour chart above. The price also moved below the low of a swinging zone at 0.64423.
The closing risk is now 0.6455 (the highest in a swing zone). They are below this level and traders are next targeting a decline towards 0.6400. The 2023 low price reached 0.62698. This is the lowest level since 2022.
This article was written by Greg Michalowski at www.forexlive.com.
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