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AUD/USD flat-lining below 0.8700

FXStreet (Edinburgh) - The Aussie dollar is now looking to consolidate intraday losses, with the AUD/USD sidelined around 0.8670.

AUD/USD key week ahead

Spot is recovering some ground after printing fresh multi-year lows around 0.8640, levels last seen in July 2010. The outlook remains bearish, as the sentiment continues to be dominated by the USD strength and uncertainties regarding a potential slowdown in China. Busy week for the AUD ahead, as the RBA will hold its meeting on Tuesday followed by Consumer Inflation Expectations and Unemployment figures on Thursday and Home Loans and RBA Assistant Governor Edey speech due on Friday.

AUD/USD significant levels

As of writing the pair is retreating 1.43% at 0.8676 and a breach of 0.8545 (50% Long term) would expose 0.8500 (psychological level). On the upside, the initial resistance lines up at 0.8770 (high Sep.29) ahead of 0.8813 (high Sep.26) and finally 0.8885 (high Sep.25).

USD/JPY has the 110 target back in it's sights

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AUD/USD holding on key support 0.8660

AUD/USD is trading at 0.8670, down -1.51% on the day, having posted a daily high at 0.8808 and low at 0.8643.
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