The Australian dollar made a recovery attempt during the Asian session and even ignored not so encouraging data. However, a fresh shopping spree of US dollars sent the pair back down. Can it challenge the cycle lows? The Aussie managed to recover from the blow early in the week and rise up to 0.8765, where it stayed for some time. The A$ ignored some poor data from both Australia and China: Australian private credit expanded by 0.4% in September, the same as in August and below expectations of +0.5%. The final HSBC manufacturing PMI for China, Australia’s biggest trading partner, was revised to the downside to 50.2 points, reflecting very poor growth. It has originally shown 50.5 points. Nevertheless, the Aussie held high in its own timezone but fared worse afterwards. A fresh wave of USD buying sent EUR/USD to a 2 year low and USD/JPY ever closer to 110. The Aussie lost ground eventually fell from the highs and hit support at 0.87, from where it stabilized. The Australia dollar’s low so far was 0.8682, just above the previous low of 0.8660 which is critical support and low seen in February. Below this line, it’s probably all downhill. More: Are the AUD and NZD currencies on path for more devaluation? Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Canadian GDP flat in July – USD/CAD breaks above 1.12 Yohay Elam 8 years The Australian dollar made a recovery attempt during the Asian session and even ignored not so encouraging data. However, a fresh shopping spree of US dollars sent the pair back down. Can it challenge the cycle lows? The Aussie managed to recover from the blow early in the week and rise up to 0.8765, where it stayed for some time. The A$ ignored some poor data from both Australia and China: Australian private credit expanded by 0.4% in September, the same as in August and below expectations of +0.5%. The final HSBC manufacturing PMI for China, Australia's biggest trading partner,… 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.