We have repeatedly pointed out the AUDUSD pair last week and mentioned it is on the verge of a weekly break out to the downside once 1.0200 gives way. Overnight  the pair finally broke down and has reached recent lows of 1.0117. Support now seen down at the 1.0100 level which also is the 50% fibonacci retracement of the  0.9578/1.0625 rally (1.0102). Sell stops are in place through 1.0100 and 1.0070, with Sell orders now building in the 1.0150/60 zone. Sell at 1.0150  SL  1.0185   TP  1.0055

GBPUSD is also "on its knees" as it continues to fall. This week could see further declines in this pair - the BOE'S Monetary Policy Committee will take its monthly vote on Thursday and while it is likely to leave interest rates on hold at 0.5pc, economists believe there is a strong possibility that it will increase its quantitative easing programe by £25bn taking it to a total of £400bn. Increasing QE might accelerate the move down in this pair. We are waiting to sell at 1.5080  (Weekly Pivot) SL 1.5120   TP  1.4980.

Overnight the Chinese stock market fell, EURUSD was dragged down slowly - the pair is again trading below 1.3000 at this moment of writing. Further support is seen down at 1.2920, 1.2880 and 1.2820. Resistance is at 1.3050 and 1.3080. The weekly pivot is far away at 1.3100 , any attempt to overcome it will be met with strong selling.