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AUD/USD keeps falling, near 0.8570

FXStreet (Edinburgh) - The selling mood has taken over the Aussie dollar on Thursday, pushing AUD/USD to multi-day lows around 0.8570.

AUD/USD in 2-week lows

Spot retraced last week’s advance and is now threatening to test the area of ytd lows around 0.8540. Once again, the solid performance of the US dollar is behind the current softer tone in the pair, falling for the fourth consecutive session from recent peaks in the 0.8780 neighbourhood. Nothing of note data wise, with Chinese HSBC Manufacturing PMI coming in at 50.0 for the present month vs. 50.4 in October and the RBA FX Transactions totaling $389 million during the last month. Ahead in the day, US inflation figures and Markit’s PMI will set the tone for the pair.

AUD/USD levels to consider

The pair is now losing 0.43% at 0.8577 and a breach of 0.8540 (2014 low Nov.7) would open the door to 0.8500 (psychological level). On the other hand, the next resistance lines up at 0.8747 (high Nov.18) ahead of 0.8789 (50-d MA) and finally 0.8796 (high Nov.17).

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