AUD/USD back to flat
The Australian dollar isn’t sure which way it wants to go.
It’s back to flat at 0.7012 after five straight days of declines. It briefly broke the critical 0.7000 level and continued to 0.6988 but there wasn’t a real run on stops and now the market is having second thoughts.
There is some fresh pressure on emerging market currencies that’s brewing. This is a huge level that needs to hold.