Sellers in the AUDUSD are pushing the price below old floor. Can the sellers keep pushing?

The AUDUSD has seen steady sellers in trading today. The currency pairs now down -0.40%. And extending below what was a floor in the month of November between 0.6433 and 0.64419. That area is now close risk for sellers looking for more downside. Stay below is more bearish.

The move to the downside was started after the pair moved higher into the close on Thursday, but fell short of the falling 100-hour moving average of 0.64584. The high price in the early Asian session reached 0.6455 before turning lower.

Geopolitical concerns from South Korea may be helping to weaken the currency and strengthen the US dollar. Technicals can also be used to explain the decline.

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