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AUD/USD Weakness Puts Pair Within Range of Several Key Downside Levels

AUD
  • With the USD remaining favoured across G10, equities and yields slipping modestly - AUD/USD trades heavy and is through to new weekly lows this morning, and now sits within range of 0.6514, the early August low and bear trigger.
  • Weakness through here puts the pair at the lowest level since June 1st and within range of a series of key levels: firstly the YTD low and assumed sizeable support at 0.6458 - the May 31st low - as well as one of the largest option strikes for today's NY cut: A$1.4bln set to roll off at $0.6450.

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