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AUD/USD collapses to trade below 0.9700

FXstreet.com (San Francisco) - After a 80 pips jump from 0.9755, the AUD/USD has been rejected by the 0.9825 area and currently the pair is collapsing to test lowest levels since June 2008 around 0.9690.

Currently the pair is trading at 0.9710, 0.97% down on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators now are mixed as CCI and Momentum are bullish while the Stochastic is neutral and the MACD is bearish. However, market must wait for the next 15-minutes candle close.

Below the 0.9700 area, next supports are at 0.9675 and 0.9640. On the upside, resistances are at 0.9740, 0.9800 and 0.9825.

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