AUDUSD trades to new low for the year, but momentum fades. Can buyers take back control?

<p>The AUDUSD traded to a new low for the year, falling below the end of May low at 0.64587. However momentum quickly faded and the price started to rotate back to the upside. </p><p>That begs the question, "What do the buyers have to do to take back more control?".</p><p>In this video, I talk about the hurdles that buyers would need to get back above, to take more control from a technical perspective. Levels that would need to be broken include the:</p><ul><li>Swing low from August 8 at 0.64957, </li><li>Low price from August 3 at 0.65136. </li><li>Above that is the falling 100-hour moving average of 0.6522, and the </li><li>Falling 200-hour moving average of 0.65394.</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.