AUD/USD got absolutely hammered on Monday as traders sold off most commodities. With the backdrop of a weakening EU and Chinese growth seemingly slowing down – the commodities markets got hit hard during the session.
Market review for 5 – 9.12, 2011
High volatility was witnessed in the FX market during last week on the event of low volumes and Global economic uncertainity . Major trend is range bound between 73.40 and 81.20 where as the medium trend is...
AUDUSD remains in uptrend from 0.9663, the pullback from 1.0378 is treated as consolidation of uptrend. Another rise is still possible after consolidation, and next target would be at 1.0600-1.0700 area. Support levels are at 1.0000 and...
AUD/USD had a rough day on Thursday as it both shot straight up, and then fell apart. The original move was in reaction to the EU announcement of a rate cut, something the market desperately wanted.
The Euro gained amid expectations that Europe will expand the fund for assistance
AUD/USD rose on Wednesday after printing a hammer on Tuesday to show support again. The Aussie is a “risk on” currency, and with each rumor that looks like the EU will get some kind of relief, this...
The Dollar Index (December basis) is trading flat with 77.80 acting as important support on the event of flat to weaker trading in most of the asset classes especially the benchmark equity index of the Dow Industrials....
Market participants’ expectations for upcoming EU economic summit supported the Euro.
AUD/USD fell during most of the session on Tuesday as traders continue to sell risk worldwide. Also, the RBA cut rates in the early hours, which of course didn’t help the demand for the Aussie.
