It looks like the Aussie is in the middle of a deeper correction. Latest developments in financial market are generally risk-supportive but some commodities came under pressure as did commodity currencies, also due to higher U.S. yields.

The pair has so far fallen four cents from a top near 0.78, set on the U.S. election day. 200 DMA and 0.75 level were convincingly busted this week and should now act as strong resistance. The pair is currently stalling at 61.8% retracement of the May - November upswing.

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