The US dollar narrowly beat out the yen this week as the top performing currency. The largest decliner, by a longshot, was the Australian dollar.
FX performance this week vs USD
Technically AUD/USD is in a world of pain. Adding to the woes is that the pair appears on the way to closing the week at/near the lows — a negative sign. The pair has broken below the 100-month moving average at 0.8961 and is trading at the lowest since 2010.
The break of the 2013 low tells me the minimum target for the move is the 50% retracement of the 2008-2011 rally but a probably target is the zone of support around 0.8000.
AUDUSD weekly chart
