AUD/USD touches a low of 0.7348 on the day
No reprieve for the aussie as it seems. The risk-off tones in the market continue to weigh down the currency and European equities are extending losses on the day with the DAX now down by 1.8%.
For AUD/USD, the pair looks towards a move to test the May 2017 low @ 0.7329 now after having broken below the June low of 0.7373.
A further breach there will open up a move towards 0.7200 next. With the trade rhetoric impacting China and risk sentiment, along with bond yields spread widening in the favour of the US, it's making for a potent combo to bring down the AUD/USD.
