The dollar and the yen continue to benefit from the risk climate
The greenback is still advancing in all areas amid continued risk liquidation as we begin morning trading in Europe. AUD / USD fell to a session low of 0.6516 as the dollar also hit session highs against the euro, pound and loonie.
In particular, AUD / USD continues to maintain a break below its 100 hour MA (red line) with the next key support being at the 200 hour MA (blue line) @ 0.6500.
European stocks are under pressure alongside US futures on tensions between Hong Kong and China, with the Hang Seng index down more than 5%, adding to concerns so far today.
For AUD / USD, there is also additional support over the 100-day moving average at 0.6495. But break below the 0.6495-00 region and the sellers will regain control.