Falls as the dollar reverses higher.
The AUDUSD moved higher on the back of risk on flows, but those flows have reversed a bit as the flow of funds returned to buying the dollar with yields rising, gold tumbling and stocks coming off highs.
Looking at the hourly chart, the price based near 0.7266 in the Asian and London morning session. The low price just reached 0.72672 and has bounced. A move below would increase the bearish bias.
The 0.72887 to 0.7300 is now resistance. That area represents the highs from Thursday, Friday and earlier today. Get above would give buyers more control.
The battle is on now that the up and down lap has been completed.
