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Forex: AUD/USD sells off ahead of US open

AUD/USD has declined steadily throughout the European session to post a low at 1.0315.

Having posted a morning high ta 1.0371, the pair decline close to 60 pips and is currently finding support around the 200 and 100 MA ´s. A day of bearish economic data has helped drive the sentiment driven pair, whose hourly RSI currently sits at 33 and is moving with a downward bias. Spot is currently down 0.38% on the day and with only US Industrial Production and the Michigan Consumer Sentiment Index ahead of note at 14:15 & 14:55 GMT, few fundamental drivers are on the near term horizon.

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