AUD/USD slips below earlier lows

Stock markets are near the lows of the day and that's hurting commodity currencies. Earlier, AUD/USD had found support around 0.7880 but it's slipping below at the moment and is now at the worst levels since last Wednesday.

There will be some Australian data out later on wages, construction and skilled vacancies so AUD traders will have some numbers to watch.

Technically, it's early to call this a break. If find it really hard to believe that the trend of USD-weakness turned on a dime on Friday, for no particular reason.

What I would look for here is a sign of AUD/USD strength to buy but whether that's nearby, or down at the huge area of support near 0.7775 is the question.