Aussie under pressure on Iron ore decline

FXStreet (Bali) - The Australian Dollar has come under pressure in early Tokyo, as Chinese (Dailain) Iron Ore futures open down over 3% on glut concerns and weak demand.

Jim Langlands, Founder at FXCharts, notes: "With little bounce from the session low of 0.7632, further weakness seems to lie ahead although 0.7600/10 will provide some decent support, having held on the last couple of attempts, but a break of which would then suggest a return to the trend low at 0.7559."