AUD/USD falls below the 2008 low and under 0.6000
The dollar funding squeeze is now pushing AUD/USD to nearly 2% losses on the day as we see the pair fall below the 0.6000 level for the first time since 2003.
It has been a dramatic fall for the currency pair to start the year and so far, there are little signs to hint that this is nearing a bottom but let's see how well can the 0.6000 handle hold in trading today.
Beyond this level, I will continue to preach the notion that the rot will stop when it stops - much like when it fell under 0.6700. This is still no time to try and catch the falling knife.
