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AUD/USD aiming for lower levels below 0.91

FXStreet (Bali) - AUD/USD is trading pressured in Asia, with bears still the force in full control, presently at 0.9090 lows after the major bull trap from last Thursday following an astonishingly high Aus jobs report.

If one is to find a clear signal that suggest how bearish the sentiment has turned in the AUD/USD market, the latest Australian jobs report is the final prove. Not even such an outstanding 121k number vs 15k expected managed to turn the bear tide around.

Valeria Bednarik, Chief Analyst at FXStreet, commented on the Aussie: "The technical picture has turned strongly bearish with the short term picture showing indicators still heading lower despite in oversold territory, with 20 SMA now offering dynamic resistance in case of recoveries around 0.9140. In the 4 hours chart the bearish momentum remains also quite strong with no signs of exhaustion at the time being, supporting a continued slide towards the 0.9000 price zone."

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