Forex: Aussie dollar tanks vs. USD, JPY as Asia turns risk-off
FXstreet.com (San Francisco) - The Australian dollar has just broken to new weekly lows against its Japanese counterpart Friday in Asia, and against the majors in general, underpinned by heavy AUDUSD selling on risk aversion due to this evening's 'Plan B' debacle.
AUDJPY just broke below overnight support (87.82) to extend as low as 87.74, and now threatens to target lower levels. If the downward momentum persists, there looks to be room to run toward the 100-EMA on the 4-hour chart at 87.13. Next support below there is noted at 86.65 (23.6%, 79.38/88.88 advance). The decline in AUDUSD looks to have found short-term support at the 50-day EMA, having traded as low as 1.0436 today (2-week low), last at 1.0445 vs. 1.0480 late Thursday.
AUDJPY just broke below overnight support (87.82) to extend as low as 87.74, and now threatens to target lower levels. If the downward momentum persists, there looks to be room to run toward the 100-EMA on the 4-hour chart at 87.13. Next support below there is noted at 86.65 (23.6%, 79.38/88.88 advance). The decline in AUDUSD looks to have found short-term support at the 50-day EMA, having traded as low as 1.0436 today (2-week low), last at 1.0445 vs. 1.0480 late Thursday.
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