The Reserve Bank of Australia kept rates unchanged at 4.35%. However, instead of being more hawkish, the central bank was perceived to be more dovish. That helped to send the AUDUSD lower. Technically, the price broke below its 200-hour moving average (green line in the chart below) at 0.66089. The 200-day moving average gave traders some cause for pause at 0.65783, but buyers gave up and have since pushed the price down toward the 38.2% retracement of the move up from the November 10 low at 0.65556. The 38.2% retracement has so far stalled the fall. A move below the moving average should open the door for further selling with a swing area between 0.6500 and 0.65229 as the next target area.
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