December 9, 2022

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AUDUSD trades to a new 2021 low

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AUDUSD traded lowest level since December 2020

The AUDUSD is traded to a new session low and in the process is trading to a new low for 2021 and new low going back to December 21, 2020.

AUDUSD traded lowest level since December 2020_

The price has cracked through the June 18/June 21 lows down to 0.7476. That level is now a close intraday risk level for sellers.   Stay below keeps the sellers firmly in control intraday.

Looking at the daily chart below, the deeds 21 low comes in at 0.7461. Move below that level and traders would be targeting down toward the 0.7400 level and the 61.8% retracement of the move up from the November 2020 low at 0.73784.

AUDUSD on the daily chart

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