AUDUSD sellers are making a play to start the trading week

<p>The AUDUSD sellers are making a play in the early US trading hours to start the trading week. </p><p>The price has now moved below its 100 hour moving average at 0.6432, and also below the 38.2% retracement of the September trading range of 0.64287 (see chart below). </p><p>The next key downside hurdle comes in at the 0.6415 level where both the 200 hour moving average (green line in the chart below) and the 50% retracement of the September trading range is found. A move below that level would open the door for further selling toward the 0.6400 area.</p><p>It would now take a move back above the 100 hour moving average to frustrate the sellers and lead to a more positive bias in the short term for the AUDUSD. Absent that the sellers are more in control. </p>

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