Yesterday the AUDUSD retraced its earlier gains. The early Asian session low reached 0.7235 area. Swing lows from the New York afternoon session also bottom near that level. The low price just reached 0.7234. So far support buyers are leaning against that low level. The low price from yesterday reached 0.72199. That was close to the August 27 low price at 0.72217.
The price is well off the high price from the London morning session at 0.72823.
Looking at the hourly chart, that high price did look to test the downward sloping trendline at 0.72838 (the high price reached 0.72823). The falling 100 hour moving average is also in play near that level. The 100 hour moving average level currently comes in at 0.7284 (and moving lower – see blue line in the chart above).
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