Moves closer to November 13 low
The AUDUSD has moved to a new session low at 0.7230. The price is approaching the November 13, 2020 swing low at 0.72210. A move below that level, is a another step in the bearish direction. The low price just reached 0.72304.
The price yesterday cracked below its 2021 low from mid July at 0.72889. That increase the bearish bias which saw the price also moved below the swing low from November 19 at 0.72539 into the close.
The price high today moved back above that level but stayed comfortably below the old low for the year before moving back to the downside more recently.
Going forward it would take a move back above the 0.72539 level to the buyers some comfort. Absent that and a break of the 0.7221 should lead to further downside momentum.
