Oct
01
2009
AUD/USD Trading Weaker
Posted by: in Forex Tips, tags: Commodity, Driven Economy, Excerpt, Inflation Figure, Last Spring, Moving Average, News Sources, Payroll, Resistance, Retracement, Term PerspectiveNews Sources wrote an interesting post today on
Here’s a quick excerpt
Showing little to no reaction in response to a lower year over year inflation figure, to which the AUD usually responds, particularly being a commodity driven economy, (theoretically it should move the AUD lower) speaks to the shift that is occurring in a market that has done little but go up since last spring bringing the AUD with it. On a short-term perspective going into US Non-Farm Payroll, the pair could see some resistance on retracement to the 50% level, where the 200hr moving average is
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