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AUD/USD hits fresh lows below 0.8700

FXStreet (Córdoba) - AUD/USD broke below 0.8715 after Wall Street opening bell and dropped to 0.8693 reaching a fresh daily low. The pair continues to retreated after rising on Asian hours to 0.8794, the highest price in two weeks.

Currently is trading back above 0.8700, moving slightly off session low but still in negative territory for the day. It has erased Friday’s gains.

AUD/USD with support around 0.8650

Today's’ decline brought the pair closer to the 0.8650 area, where an important short term support is located. The mentioned area capped the downside several times last week. A break lower could open the doors for a slide toward 0.8610.

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Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that the CAD is soft but still trading within Friday’s range and gave us a technical snapshot of the unit.
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