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9 Feb 2016

AUD/USD much weaker, breaks below 0.7000

FXStreet (Edinburgh) - The Aussie dollar is now rapidly losing ground vs. the greenback, taking AUD/USD to fresh los in sub-0.7000 levels.

AUD/USD lower on risk aversion

Spot is accelerating its daily decline today, quickly breaking below the overnight consolidative pattern around 0.7030 to test session lows in the 0.6980/70 band. In addition, the risk aversion is now gathering further traction, taking a toll on riskier assets and hurting commodity-linked currencies, like AUD, NZD and CAD.

Nothing worth mentioning in the data space, with only the API’s weekly report on crude oil stockpiles due later in the NA session.

AUD/USD key levels

As of writing the pair is retreating 1.43% at 0.6983 with the immediate support at 0.6916 (low Jan.26) ahead of 0.6900 (psychological level) and finally 0.6824 (low Jan.15). On the other hand, a break above 0.7137 (55-day sma) would open the door to 0.7246 (high Feb.4) and then 0.7311 (200-day sma).
Feb 9, 2016

ECB’s Weidmann – Inflation seen rising later than expected

As per Bloomberg news, European Central Bank (ECB) member and president of the Deutsche Bundesbank Jens Weidmann reiterated today that inflation in the Eurozone will take more time to rise than expected earlier.
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Feb 9, 2016

US index futures indicate flight to safety on Wall Street

Action in the US equity index futures point to heightened risk aversion and flight to safety after the opening bell.
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