Price falls below 100 bar MA but finds support vs. trend line
The AUDUSD has fallen below the 100 bar MA on the four chart at 0.7797 after the volatile trading from the ECB press conference. The subsequent move to the downside has found support against the lower trend line connecting lows from February 12 and March 3 at 0.7772. The 200 bar MA and the 100 bar MA was the old battle. Now the battle shifts to lower levels at the 0.7772 and 0.7797. The sellers are taking some control, but there is more work to be done.
A move below the lower trend line should open the door for a further move toward the 0.7745-50 area.
There has been a step lower, but there is more work to be done.
