The embattled AUD/USD has managed to fall lower into the depths of despair Thursday, recently touching the 0.9800 level during European trading (0.9797 intraday low). This weakness has not been seen in the pair since June 2012, leading many investors wondering where the bottom to this downtrend lies. In these moments, the cross is testing the 0.9800 level, having now incurred a staunch decline of -0.97% below its opening.
Forex Flash: USD/CHF is faltering just ahead of its next resistance at 0.9769/72 - Commerzbank
With the pair oscillating towards the figure, having broken it earlier on in the European session, Karen Jones, analyst at Commerzbank says this is the location of the 78.6% retracement and the June 2012 high.