AUD/USD Update – 27/09/2017 (11:00am) – by Arjun Lakhanpal

AUD/USD Update – 27/09/2017 (11:00am): AUD still under pressure having broken trend support at .7955.. The short term corrective phase continues to develop as we monitor key initial support levels to confirm the onset of a deeper retracement. Again, the more immediate focus is on the .7870/.7807 support zone and August lows with breaks confirming the onset of a deeper pullback.  While intact, we still cannot rule out another run at the .8125/.8295 target zone which includes the September high, as well as the early-2015 peaks but at present the downside looks vulnerable and some suggest further USD buying into quarter-end this week.