The AUDUSD has followed the lead of the other currencies post the better than expected Non-Farm Payroll report which showed a gain of 248K jobs and a revision increase of 69K jobs in the prior two months.
The AUDUSD is approaching low from January (and the year) at 0.8659.
The pair is back approaching the lows from Wednesday at the 0.86632 level and the low for January 20 at 0.8659. A move below these level should solicit stops and further downside momentum.
Looking at the weekly chart, the low from January was the lowest level since July of 2010. The next major target comes in at the 50% of the move up from the 2008 low to the 2011 high at the 0.85371. There just is not much support to hang a hat on from the weekly chart at least.
If you were to look at the hourly chart, on a move below the low, the next target would be at the 0.8639 level (and moving lower). This is the trend line connecting the lows from Monday and Wednesday. Below that, the 0.8570 becomes the next target for the pair.
The AUDUSD targets the 0.8639 and then the 0.8570 on the hourly chart.