AUD/USD hits 12-day lows at the 0.7200 area amid risk aversion

Aussie drops sharply versus US dollar amid risk aversion.
AD//SUD test support at 0.7200, so far it holds above but remains under pressure.

Matías Salord FXStreet

The AUD/USD pair dropped further and bottomed at 0.7199, the lowest level since September 9. As of writing, it trades at 0.7205/10, down 80 pips from Friday’s close and remains under pressure.

A stronger US dollar is the key driver on Friday in the currency market. The greenback is the top performer. The DXY rose to 93.75, reaching the highest level in a month. Risk aversion boosted the demand for the safe haven.

In Wall Street, the Dow Jones is falling 3.00% and the S&P 500 2.35%. Commodities are also under pressure. Crude oil (WTI) drops 4.70% and gold 2.90%.

The deterioration in risk sentiment had no particular triggers. In Europe, report about major banks doing transactions with suspected customers; while in the US signs about economic deceleration take more significance amid the lack of progress in Washington for another round of stimulus.

Technical levels

AUD/USD

Overview
Today last price	0.721
Today Daily Change	-0.0079
Today Daily Change %	-1.08
Today daily open	0.7289

Trends
Daily SMA20	0.7284
Daily SMA50	0.719
Daily SMA100	0.6974
Daily SMA200	0.6768

Levels
Previous Daily High	0.7334
Previous Daily Low	0.7282
Previous Weekly High	0.7346
Previous Weekly Low	0.7254
Previous Monthly High	0.7416
Previous Monthly Low	0.7076
Daily Fibonacci 38.2%	0.7302
Daily Fibonacci 61.8%	0.7314
Daily Pivot Point S1	0.7269
Daily Pivot Point S2	0.725
Daily Pivot Point S3	0.7218
Daily Pivot Point R1	0.7321
Daily Pivot Point R2	0.7353
Daily Pivot Point R3	0.7373

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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