Commodity pair, AUDUSD has over the last couple of hours lost in excess of over 50 pips during the late European session. The pair look to be building momentum in the early Wednesday trading reaching highs of almost 1.0460 before plummeting consisting for the last 5 hours leading to the close of the European session.
Though the pair continue to look partially bullish on the mt4 daily chart with an important resistance at 1.0455 difficult for the pair to breach, having tested it on different occasions.
On the 30M and 1H chart, the symbol looks to continue its downward slide with technical indicators pointing southwards. If the pair continues its slide, it would certainly penetrate 1.04 with 1.0390 in view.
The pair is currently quoting 1.0412 as at Wednesday 11th November 2012, 15:30 GMT+1.