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AUD sellers step in at USD 0.93

FXStreet (Bali) - Despite the Australia Q2 GDP data came above expectations for Q2, at +0.5% vs +0.4%, the market is happy to sell AUD on strength.

AUD/USD stepped in just above the 0.93 mark, taking the exchange rate towards 0.9270-75 again, in a sign that sentiment towards the AUD is deteriorating.

The next key event to keep an eye on for the interest of AUD traders comes at 3.20 GMT, time when RBA Governor Stevens will give a speech to the Committee for Economic Development of Australia (CEDA).

On the downside, Jim Langlands, Founder at FXCharts, notes that 0.9260-70 is next support, "below which could make another run towards last month’s 0.9236 low; below there, would most likely see an acceleration towards 0.9200, increasing the medium term bearish view."

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