<p>As shares proceed to run decrease, with the Nasdaq down -220 factors or close to 2% and the S&P donw -76 factors or -2.04%, the AUDUSD is continueing to take it on the chin. The pair is down -1.52% on the day which is barely eclipsed by the GBPs 3% tumble vs the USD. </p><p>Looking on the weekly chart, the pair moved under a swing space this week between 0.6656 to 0.66809. The excessive worth yesterday and immediately stalled into that vary, however discovered keen sellers (see purple numbered circles on the each day chart). </p><p>Drilling to the 5 minute chart, the pair has 3 legs decrease immediately. Each has seen a modest correction. The first two stalled the rally in opposition to the 100 bar MA and the 38.2-50% of the "leg decrease". The present leg has stayed nicely under the 38.2%. Sellers are in agency management/the development is undamaged under that correction zone presently between 0.6556 and 0.65629 (a brand new low, adjusts these ranges). </p><p>Stocks commerce to new session lows. </p>
This article was written by Greg Michalowski at forexlive.com.