Commodities are lower
Oil is lower. Commodities are lower. And the dollar is stronger. That has helped to put pressure on the AUDUSD. Technically, the pair has broken below a lower trend line. That trend line was broken yesterday at the start of the session/week's trading, but was quickly reversed. I will keep the line in tact on the failure on the first look. The line cuts across at the 0.7517 level.
The 100 day MA is the next major target for the pair if the selling momentum can be continued. That MA comes in at 0.7497. Being so close to the 0.7500 level will likely give sellers cause for pause. The low in August extended to 0.7485 (on August 2nd).
