 Australian Dollar is under broad based selling pressure today. RBA minutes reiterated the non-urgency for any rate move. IMF report pointed out risks are tilted to the downside in Australia. But risk aversion is more likely the factor driving Aussie down. Major Asian indices are in deep red following the weakness in the US overnight, as tech selloff intensified. Euro and Dollar are following as the next weakest so far. Swiss Franc is the strongest one for today, extending yesterday's surprised rally. Meanwhile, New Zealand Dollar also bucks the trend as it's digesting yesterday's loss. Technically, strong resistance at 0.7314 as experienced by AUD/USD is also a factor weighing down the Aussie. For now, there is no confirmation of rejection by 0.7314 yet. But break of 0.7164 support (which is still far) will indicate near term reversal. EUR/AUD's break of 1.5693 minor resistance yesterday suggests short term topping and we'll likely see some stronger rebound ahead. USD/CHF's break of 0.9952 support is seen as an indication of bearish reversal. But for now, EUR/USD is holding below 1.1499 resistance. So there is no confirmation of broad based weakness in Dollar yet. In other markets, NASDAQ led the way down yesterday by dropping -3.03%. DOW closed down -1.56% and S&P 500 lost -1.66%. Treasury yields closed generally lower with 10 year yield down -0.017 at 3.057. 30 year yield showed some resilience and was down -0.011 only to 3.316. In Asia, all major indices are in red. Nikkei is down -1.12%, Hong Kong HSI down -1.89%, China Shanghai SSE down -1.51% and Singapore Strait Times down -1.18%. | 
