10 Oct 2014
AUD/USD slides further to 0.8700
FXStreet (Córdoba) - AUD/USD broke 0.8745/50 and tumbled to 0.8704, reaching the lowest price since Monday. In 24 hours the pair has erased weekly gains after making a reversal near 0.8900.
AUD/USD hit by risk aversion
The US dollar rallied further on European hours and hit fresh daily highs across the board, as stocks plummet around the globe, also favoring the yen.
On Thursday the pair climbed to 0.8897 and since then lost almost 200 pips approaching to the level it had at the beginning of the week. Before, AUD/USD would have to break the 0.8700 area that is offering support at the moment.
AUD/USD hit by risk aversion
The US dollar rallied further on European hours and hit fresh daily highs across the board, as stocks plummet around the globe, also favoring the yen.
On Thursday the pair climbed to 0.8897 and since then lost almost 200 pips approaching to the level it had at the beginning of the week. Before, AUD/USD would have to break the 0.8700 area that is offering support at the moment.