Forex: AUD/USD breaks lower after S&P 500 falls below 1400
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AUD/USD
FXstreet.com (Barcelona) - Having traded within a tight range throughout the day, AUDUSD has broken lower with intent to currently trade at 1.0306.
The move came off the back of the S&P 500 failing to hold the psychologically important 1400 level and represents a decline of 35 pips from the daily high at 1.0343. Forex Ticket see the next downside support level at 1.0297 followed by 1.0271. With volume light and focus primarily upon tomorrows Jackson's Hole Symposium, the next few hours will be important in determining whether this move lower will be sustained or represent a short term break out.
The DAX is now down 1.88% and The S&P 500 down 0.89% whilst Commodities have given away their daily gains.
The move came off the back of the S&P 500 failing to hold the psychologically important 1400 level and represents a decline of 35 pips from the daily high at 1.0343. Forex Ticket see the next downside support level at 1.0297 followed by 1.0271. With volume light and focus primarily upon tomorrows Jackson's Hole Symposium, the next few hours will be important in determining whether this move lower will be sustained or represent a short term break out.
The DAX is now down 1.88% and The S&P 500 down 0.89% whilst Commodities have given away their daily gains.
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