AUDUSD plunges below the 200 hourly MA. Test the lows of the day


AUDUSD plunges below the 200 hourly MA

Earlier in the day in the early hours of Asia, the price fell to this MA on China concerns, but found supportive buyers. The move back up extended above a swing zone between 0.6778 and 0.6782 but failed to reach a descending trendline and turned lower during the 3- Last 4 hours of trading.

The low reached 0.6759, which was lower than the Asian low at 0.67565.

Price is back above the MA at 0.6765.

It appears to be just up and down flows, but if the 100 hourly MA is broken lower at 0.67425, it would shift the bias further downside. The hourly descending trend line comes in at 0.6805 (and is moving lower).



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