The AUDUSD is looking to end the day near lows. Stocks moved lower. The USD moved higher. Risk off flows? Maybe a little.
In this video, I talk about the technicals that are dominating the price action in the pair. The 100-hour MA has seen price action above and below over the last 3 trading days, but the price is back below and moving away (bearish). The higher 200-hour MA has not been broken to the topside since May 11.
It would take a move above both the 100 and 200-hour moving averages to increase bullish bias. Absent that the sellers are more in control and a move toward the lows from May/April would be eyed.
This article was originally published by Forexlive.com. Read the original article here.