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AUD/USD: Bears launch new attack, 0.8727 lowest so far

FXStreet (Bali) - AUD/USD made fresh new lows in Asia, hitting its cheapest level since Jan 31 this year at 0.8727, following the break of last Friday's NY low at 0.8747 as sentiments towards the Aussie worsens.

Valeria Bednarik, Chief Analyst at FXStreet, notes: "The AUD/USD maintains its negative tone. The 1 hour chart shows 20 SMA capping the upside a few pips above current price while momentum turns south around 100, showing no actual strength. In the 4 hours chart however, the bearish tone is stronger with RSI flat at 32 and momentum heading south below 100."

Valeria adds: "The overall stance is bearish, with some follow through below 0.8745 supporting a slide towards 0.8700 area; short term 0.8770 is the resistance to follow, with 4 hour’s 20 SMA standing around the 0.8800 figure and probably attracting some short term sellers if reached."

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