The 0.6509-11 is swing area. The 50% of the move up from yesterday's deep low is at 0.6498
The AUDUSD is down testing a old swing level going back to March 2 of March 3. There were 4 swing lows in the 0.6509 to 0.65118 area. A break below would next target the 50% retracement of the move up from yesterday's load to the high reached yesterday at 0.64980.
A move below the 50% level would open the door for further downside momentum.
At the highs yesterday and again today, the pair did find sellers against moving average levels. Yesterday the high price stalled near the 200 bar moving average on the 4 hour chart (currently at 0.66701. Today the Asian session high prices stalled against the 100 bar moving average on the 4 hour chart at 0.66039 currently and the 100 hour moving average just below that level. The inability to move above those levels helped to turn the bias to the downside from a technical perspective.
