Forex: AUD/USD dip eyes 1.0500, threatening to continue

FXstreet.com (San Francisco) - The AUDUSD is now breaking through multiple levels of support in a bout of U.S. dollar strength on safe haven demand; sentiment took a hit after Australia's employment report missed expectations in the last month of 2012. Spot has tested bids through 1.0502, limited by the 21-day EMA and the psychological handle. As Valeria Bednarik, Chief Analyst at FXstreet.com noted earlier, a bearish break below 1.0490 would open scope for a 40/60 pips continuation move.

Asian shares are mixed but mostly lower, with Japan's Nikkei down 110 points, or 1%; Australian shares are currently up around 0.8% at 4774.90. Hang Sen 40 is down 0.2%.