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Greenback strength overwhelms Aussie buyers

FXStreet (Bali) - AUD/USD has been falling in vertical fashion since the open of markets on Monday, with last Friday's brief test of 0.94 giving way to a major turnaround, with the pair trading hands at 0.9275 lows presently.

Peter Fell, Analyst at FXBeat, notes: "The 61.8% fibo and falling trend-line resistance between 9400/10 is proving formidable... We open in Sydney towards the low at 9381, the lack of any bounce is a concern for the bulls."

Peter adds: "Buy orders are touted between 9260/70, stops kicking in below 9250. Support seen at 9263 (Sep low) and Bollinger band base lies at 9258, below there, the two previous lows at 9238 come into play."

The key driver for the Aussie in Asia will be the NAB business survey due at 1.30 GMT, with any surprise usually providing a decent 15-20 pips move either side. Note, Australian home loans, also at 01:30 GMT, is published.

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