Market Review – 06/09/2011 21:59 GMT Franc plunges broadly as SNB draws line on eur/chf The Swiss franc tumbled broadly on Tuesday as the Swiss National Bank stated that it would no longer accept a strong franc...
US dollar strengthens.
Market review for 29.08 – 2.09, 2011 After the diverse trading dynamics, by the end of the previous week the greenback reinstated its safe-haven status.
The EUR continues to be pressured as a combination of Greek and Italian debt issues combined with a slowing of the global economy weighs on the EUR. This week is an important week as six G10 central...
The outlook for the Aussie is started to be quite bearish with the recent rally now considered as a pullback after the initial sharp decline from the beginning of August.
The pair has now confirmed a possible long term reversal with a bounce on top of the key 0,97 level from last week.
At the end of last week, we did see the pair falling sharply after a top at 0,8250. This decline is considered though as a retracement of the previous rally.
The pair continues to trade flat above its historical low (76,00) and does not seem ready to start a meaningful bounce.
The pair has broken down below 1,61 (August low) which confirms the downside pressure.
The pair continues to slide towards the highly watch level at 1,40 which might be offering some support.
