Forex: AUD/USD falls to new low below 1.0270

FXstreet.com (Barcelona) - The Australian Dollar is trading heavy along the early going of the Asian session, having briefly breached 1.0275 NY lows to set a new 5-week low at 1.0268. Selling pressure on the metals market is weighing on the Aussie.

In view of Valeria Bednarik, chief analyst at FXstreet.com: " The Australian dollar maintains the negative bias in the short term, as the hourly chart shows indicators still heading lower and price below 20 SMA."

In the 4 hours chart, Valeria sees also "favors another round of selling, although price will find a strong midterm support at 1.0260" she says, adding that "once below this last, 1.0100 comes as a possibility for next sessions."

In the next 10 minutes, China is set to publish relevant housing prices information, an event which may add volatility to the pair.