AUD/USD trips stops below 0.9080

FXStreet (Bali) - AUD/USD is breaking lower after tripping stops below the 0.9080 handle, an important level as it represented the 50% fib retrac from the Jan-June rally.

Market sources note sizeable stops further down below the 0.9050 area. As the technicals stand, Jim Langlands, Founder at FXCharts, sees "0.9050 (Weekly Cloud Base, 50% pivot of 0.8660/0.9505, Monthly Tenkan) and eventually towards 0.9000" as next targets.