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AUD/USD clinches to 0.8700 pivot

FXStreet (Moscow) - AUD/USD continues its decline; the pair opened at 0.8757 and dipped to the new multi-month low at 0.8693; currently it is trading marginally above the pivotal level of 0.8700.

No respite for Aussie

AUD/USD finished the third deeply bearish week in a row. The pair has lost more than 650 pips so far as Poor domestic data coupled with external threats such as Chinese cool down, keep Aussie bulls at bay. This week has started wit another rush to new lows. The pair dipped below 0.8700, but quickly recovered to the area above this level as strong demand around 0.8700 with stops at 0.8680 discouraged further sell-off. Later during the day AUD/USD might resume the downside if risk aversive sentiments caused by Japanese volcano eruption and Hong Kong protests intensify during European hours.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.8776, with support below at 0.8709, and 0.8671 with resistance above at 0.8805, 0.8843 and 0.8872. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8905 and the daily 20EMA bearish at 0.9024. Hourly RSI is bearish at 22.

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