AUDUSD Technicals: Price breaks below the 0.6481 floor, turning the bias more bearish. ...Middle East

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AUDUSD Technicals: Price breaks below the 0.6481 floor, turning the bias more bearish.

The AUDUSD has broken to a new session low, slicing through the 0.6481 support floor from last week and Monday’s trade. That breakdown is a bearish technical signal, opening the door for further downside momentum. The next major target sits near 0.6450, where the 100-day moving average converges with swing lows from two weeks ago.

For sellers, the risk is clearly defined. Staying below 0.6481 keeps the bearish bias strongest, while today’s high stalled just under the falling 100-bar moving average near 0.6500, a more conservative line for risk management.

    ? The video above walks through the key levels, downside potential, and trading strategy in detail. If you’re trading AUDUSD, you won’t want to miss it.

    This article was written by Greg Michalowski at investinglive.com.

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