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AUD/USD in extreme bearish territory

FXStreet (Guatemala) - AUD/USD is trading at 0.8596, up 0.03% on the day, having posted a daily high at 0.8599 and low at 0.8590.

AUD/USD has broken through key levels to the downside while markets shun the Antipodean FX space with Yen taking the lead while the Aussie suffers blows in a weak commodity environment. That coupled with softer Chinese Services PMI (52.9 vs a previous 53.5) the Aussie is scraping the barrel, and only coming up for air just 30 pips off from the lows below the 0.86 handle. The mid point on the 0.86 handle has been identified as a key area and thus while below this point, technically the pair remains in bearish territory ahead of this weeks Nonfarm Payrolls showdown.

AUD/USD noteworthy levels

Current price is 0.8596, with resistance ahead at 0.8599 (Daily High), 0.8606 (Daily Classic S2), 0.8634 (Hourly 20 EMA), 0.8664 (Weekly Classic
S2) and 0.8671 (Daily Classic S1). Next support to the downside can be found at 0.8593 (Daily Open), 0.8574 (Weekly Classic S3) and 0.8565 (Daily Classic S3).

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