The Australian dollar is falling again and lost almost 0.5% in the Asian session. The reasons are the same: signs of weakening of the Chinese economy and falling iron ore prices. From a technical point of view AUD/USD still has the opportunity to finish the day above the level of 0.7400. It is worth to pay attention to the news of the commodity market, as well as to the dynamics of the US dollar after today's macro statistics.
The pair moved in the middle of the range 110.00-111.00 yesterday, but today it is testing the local resistance of 111.00 on the strengthening of the American currency across the whole market. As we noted earlier the Japanese currency does not have convincing reasons for growth now, which could lead it beyond the current range. In the medium term USD/JPY remains bearish, at least until the area of 111.80-112.00 is passed.
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