The Australian dollar is lower for the fourth consecutive day and broke 0.9280 for the first time since mid-September. I wrote on Thursday about the reasons to sell the Australian dollar.
A rumored barrier at 0.9300 broke in much the same way yesterday’s rumored barrier at 0.9350 broke — easily. That’s not a good sign for the Aussie. Rumored strong bids at the Oct 0.9281 also have way with little fight although we be seeing those bids pick up the pieces after the rip to 0.9269.
The 100-day moving average at 0.9267 is the next support line.
AUDUSD with 100dma
Update: I’m showing the low on BLS at 0.9276.
