The Australian dollar slipped as risk appetite subsided across the board. The pair met stiff selling pressure at the start of the liquidation in June (0.7130). A fall below 0.6950 has put the bulls on the defensive and invalidated this month’s recovery in the process. Then a follow-up dip below 0.6870 could further weigh on sentiment. 0.6800 at the origin of a previous bullish breakout is the next level to gauge buying interest. 0.6960 has become a key resistance where the bears could be expected to sell into strength.
