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FXstreet.com (Barcelona) - AUD/USD is currently at 0.9866, falling almost in a straight line from parity, and even above, as yesterday's highs around the market opening for the week was 1.0009, highest since May 15. Today Australia's market is back for business after a 3-day weekend, with the pair lower by -1.22% from previous Asia-Pacific open yesterday, and even a -0.51% lower from previous weekly close last Friday.

Initial joy from the semi Spanish banking system bailout, after which, known Saturday, boosted all risk assets, including oil, equities, EUR and AUD, has gone. The current bond holders of Spanish debt seem to stand now on a disadvantage position from the new ones who will come with the deal, making Spanish yields skyrocket from the around 6% the 10 year yield was during the London morning (5.98%), to current above 6.5% (last 6.53%). The USD has risen the most in a single day since mid March this year to current 82.64.

Immediate support to the downside for AUD/USD shows at current levels as Dec 15 lows 0.9861, followed by Friday's lows at 0.9820, and Jun 05 highs at 0.9805. For the upside closest resistance comes at Dec 14/19 lows 0.9883/8 followed by May 29 highs at 0.9898, and May 22 highs at 0.9925.

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