Forex: AUD/USD breaches 1.0100

FXstreet.com (Barcelona) - The Aussie dollar broke below the key level at 1.0100 on Thursday, as the greenback is intensifying its upside across the board, punishing the risk-associated assets and high-beta currencies.

“We should see the RBA retain a dovish tone for monetary policy as China – Australia’s largest trading partner – remains at risk for a ‘hard landing’, and the Australia dollar may continue to give back the rebound from 2012 (0.9580) as interest rate expectations remain tilted to the downside”, argued David Song, Currency Analyst at DailyFX.

At the moment, the cross is down 0.75% at 1.0094 with the next support at 0.9897 (high May 29) ahead of 0.9862 (MA200d).
On the upside, a break above 1.0116 (low Mar.4) would expose 1.0255 (high May 9).