27 Jan 2014
AUD/USD sellers dominant, below 0.8660 target of 0.8550 eyed
FXstreet.com (Bali) - AUD/USD continues to trade heavy as we enter the last week of January, with the Aussie recently battered as a proxy of EM fears.
At the Tokyo open, the pair has come under renewed selling pressure despite sales on AUD/JPy have been relatively contained after an early sell-off.
While technicals are clearly point at the slide hardly over, last week we also saw reinforced evidence that sentiment towards the Aussie is at very low levels.
Short term, there is no significant support for the pair until 0.8660 Friday lows, with a break below bringing the 50% fib retrac from the GFC low-all time high into focus, at 0.8550, as the clear next big target for sellers.
At the Tokyo open, the pair has come under renewed selling pressure despite sales on AUD/JPy have been relatively contained after an early sell-off.
While technicals are clearly point at the slide hardly over, last week we also saw reinforced evidence that sentiment towards the Aussie is at very low levels.
Short term, there is no significant support for the pair until 0.8660 Friday lows, with a break below bringing the 50% fib retrac from the GFC low-all time high into focus, at 0.8550, as the clear next big target for sellers.