AUD/USD breaks 200-day moving average for first time since early March

AUD/USD falls below 200-dma

The Australian dollar slump continues. AUD/USD is at the lowest since March 2, which was also the day it broke above the 200-day moving average.

The pair has now crossed below as the pain from the weak CPI reading and RBA rate cut continues to hurt the Australian dollar.

Sentiment in commodities continues to deteriorate. Base metals are down 1.7% today and copper down 2%.