1. Hello Guest Click here to check FX Binary Point Financial Directory

AUD/USD: Selling persists as risk off weighs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Bali) - AUD/USD keeps pressing lower in Asian trade, printing new session lows circa 0.6860 as risk aversion continues to pick up, having resulted in a loss of over 60 pips or 0.86% so far.

    Risk-off intensifies, AUD feels the pain

    Assets proxy to risk remain under strong pressure, with Gold trading at session highs around 1,093.00, up over $6 from last NY close, as traders resort to the yellow metal seeking a safe-haven. SP 500 futures are down by 1.5%, US 30-yr bond price has spiked significantly higher in the last few minutes, while Oil is yet again pushing south, last at 28.50.

    Bear trend lows not far away

    Looking at the key levels for today, a decisive break through 0.6860 in the Aussie allows further slides towards today's S1 level at 0.6855, followed by 0.6850 liquidity area ahead of 0.6840 and 0.6830 (recent lows). A break below these latter would expose 0.68. On the upside, as long as risk does not improve, bounces are expected quite shallow.
    For more information, read our latest forex news.

Share This Page