Weaker employment data o/n set the early tone and there’s been little sign of a bounce so far with the pair plumbing new weekly lows of 1.0494 in recent trading from early Asian session highs around 1.0567.
AUD/JPY hasn’t helped either with the cross slipping sharply from early highs of 93.67 to 92.55 on the back of some leveraged and fund sales.
Sell stops look likely now in the AUD/USD through 1.0480/85 ahead of tech support at the Kijun line at 1.0472 with bids seen down in the 1.0445/65 zone which houses the daily cloud base at 1.0463 and the 55 day MA at 1.0453.
Initial resistance is now seen at the 1.0530/40 level ( Tenkan line 1.0533) with offers above at 1.0565/75 ahead of the so far well defended barrier up at 1.0600.
All eyes will be on further AUD/JPY pressure, ahead of tomorrow’s Chinese GDP release
AUD/USD’s around 1.0513 with AUD/JPY at 93.24
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