Mini battle going on over the last 5 hours
The AUDUSD fell on the back of weaker China trade data over the weekend. The price fell in the Asia-Pacific session and extended those declines in the London/European morning. Over the last 5 hours, the price has been consolidating above the 38.2% retracement of the move up from the July 31 low and below the 100 hour moving average (blue line in the chart below). The hundred hour moving average currently comes in at the 0.73667 level. There was an attempt to move back above it a few hours ago but that push failed.
Forex technical analysis: AUDUSD below 100 hour MA but holding 38.2%
