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AUD/USD sells-off towards 0.8615 as Yen dumped

FXStreet (Bali) - AUD/USD has seen a late Asian setback triggered by USD/JPY strength above 115.00, taking the Aussie rate towards 0.8615 session low after a topside failure at 0.8650 resistance.

Despite an upbeat NAB business conditions reading (13 actual vs 1 prior) and a slight decline in NAB business confidence (4 actual vs 5 prior), which initially lifted up confidence on bidding the AUD, the inverse correlation between USD/JPY strength and AUD/USD weakness played out as expected along an Asian session with few drivers, causing AUD weakness.

Technically, AUD/USD is now testing bids at 0.8615/20 vicinity, with a break below 0.86 now needed to expose recent trend lows at 0.8650/55. On the upside, 0.8650 is immediate resistance ahead of 0.8680 and 0.87.

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