AUDUSD breaks lower. Below trend line and low of swing area

The AUDUSD is breaking to a new session low, and in the process is moving below a downward sloping trendline on the 4-hour chart above. The price has also moved below the low of a swing area at 0.64423.

CLose risk is now 0.6455 (the high of a swing area). They below that level and traders with next target down toward the 0.6400.. The low price from 2023 reached 0.62698. That was the lowest level going back to 2022.

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