AUD/USD remains vulnerable
AUD/USD tried to recover from yesterday's minimum at $0.9124, the lowest level since the beginning of September and rose to $0.9200 today. However, so far Aussie has failed to hold there and returned down to the $0.9150 area.
Australian currency managed to test resistance on the comments from RBA Deputy Governor Lowe who said that “the threshold for intervention though is fairly high”. However, Lowe didn’t rule out such option, and the sellers used chance to add to shorts.
UBS is seeing the strongest AUD/USD selling by hedge funds since April. ANZ say that a close above $0.9295 is needed to reduce the current negative bias for further deep retracements into year end. The specialists say that below $0.9150 there’s high risk of a measured slide to $0.8960.
Chart. Daily AUD/USD
Chart. Weekly AUD/USD