Forex: AUD/USD collapses below 1.0400 after Rehn speech

FXstreet.com (San Francisco) - The Risk is off in the market and the AUD/USD is trading lower right now with the pair breaking down the 1.0400 after accelerating loses in the last moments following Olli Rehn speech on Spain.

Olli Rehn has said that "Spain won't ask for bailout in near terms", and Spain is on track as "new steps are not needed."

The AUD/USD is trading at intra-week lows at 1.0380, and declining 0.55% so far today. The pair is bearish since it was rejected at 1.0455 in the European session.

According to the FXstreet.com Forex Studies, MACD, CCI, Momentum and ROC indicators poin lower in the 15-minute chart. While Stochastics shows bullish signal in the 1-hour time frame.

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