February 9, 2023

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Aussie dribbles lower amid the more dour risk mood

1 min read

AUD/USD down 0.4% to just under 0.7200 to start the session

AUD/USD H1 01-10
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Even though the aussie was a solid performer in trading yesterday, the technicals reflected the lack of change in sentiment as gains against the dollar were capped by the key hourly moving averages – seen at 0.7237-50 currently.

As such, sellers remain in near-term control and amid the more dour risk mood today, we’re seeing the aussie slip further and back below 0.7200.

The dollar has already put in a good shift in recent weeks so the latest knock to risk sentiment is likely to exacerbate any downside pressure in the pair, all things being equal.

A break below the week’s low @ 0.7170 will put the focus on the August low @ 0.7106.

Elsewhere, AUD/JPY has also seen its light upside run towards the end of September evaporate as sellers now seize near-term control for the first time in a week:

AUD/JPY H1 01-10

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