A gap to fill from the run higher over the weekend
The AUDUSD moved higher in the Asian session into the London session and in doing so retested the high from yesterday. The highs today stalled right at the level (at 0.73928). That is not encouraging for the buyers, and they have turned around and sold.
Now, on the downside, the price did gap higher on Monday, opening and moving away from the swing high from last week at 0.73437. The low this week has reached 0.73458. Filling that gap is a downside target. A move below that level will also look to get below the swing high from November 16 at 0.7337. The 100 hour MA is behind that at 0.73305