Aussie drops as risk flows reverse on CNY shift. Early Asia session drop takes the AUD into a new five-day low as bears begin to regain control. The AUD/USD is dropping in Tokyo trading as risk appetite withdraws and safety flights prop up the Yen, sending riskier assets falling. The Aussie has knocked back into 0.7520 as of writing, and is struggling to pump the brakes as a quiet early Tuesday session sees a sharp break in risk appetite. Tuesday is a free and clear window for the AUD with nothing on the schedule, and Japanese figures came in largely at expectations, with the Japanese Unemployment Rate coming in steady at 2.5% and the Jobs/Applicants Ratio shifting slightly lower from 1.6 to 1.59. The Chinese Yuan kicked today, crossing 6.4 for the first time since June of 2017, and the cross-flows are sending the other Asia-Pacific currencies lower while traders also back into the Yen on reaction. AUD/USD Levels to watch FXStreet’s Valeria Bednarik highlighted the pair’s technical barriers looking forward: “the 4 hours chart shows that the pair was unable to surpass a modestly bearish 200 SMA, also limited by a daily descendant trend line coming from 0.7604. In the same chart, technical indicators are slowly grinding lower right below their mid-lines, but the downward momentum is limited, not enough to confirm additional slides ahead. The key support is 0.7505, the 23.6% retracement of the latest weekly decline, while to the upside, the mentioned trend line and the 200 SMA converge at around 0.7580, providing an immediate ahead of a more relevant one at 0.7620, the 50% retracement of the mentioned decline.” Support levels: 0.7505 0.7470 0.7430 Resistance levels: 0.7580 0.7620 0.7650 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US 10-year Treasury yield hit 6-week low in Asia FX Street 5 years Aussie drops as risk flows reverse on CNY shift. Early Asia session drop takes the AUD into a new five-day low as bears begin to regain control. The AUD/USD is dropping in Tokyo trading as risk appetite withdraws and safety flights prop up the Yen, sending riskier assets falling. The Aussie has knocked back into 0.7520 as of writing, and is struggling to pump the brakes as a quiet early Tuesday session sees a sharp break in risk appetite. Tuesday is a free and clear window for the AUD with nothing on the schedule, and Japanese figures came in largely… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
