12 Jul 2013
AUD/USD breaches 0.9150, lowest at 0.9134
FXstreet.com (Barcelona) - AUD/USD exchange rate has broken the 0.9150 barrier, accelerating losses towards 0.9134, new session low.
All gains post Bernanke erased
The AUD/USD, which was given a strong boost on the USD long squeeze following Bernanke's dovish message, has eliminated all the flash gains almost at the same impulsive pace as it went up, an indication that market participants remain determinedly with a short view on the pair, as the pricing for a cut by the RBA in August stays above the 50% following yesterday's weak Aus jobs.
AUD/USD in a volatile range
AUD/USD chart shows volatile trading conditions, all within the context of a range frame between 0.9040/50 and 0.9300/50. Trading inside this range poses significant challenges to hint next direction as wild swings remains the norm. On the downside, buyers have been emerging at 0.91 or thereabouts, while on the upside, 0.92 has been well capped late in the US session. Sean Lee, Founder at FXWW, notes "The technical picture still seems fairly constructive with a ‘rounding bottom’ forming on the short-term charts."
All gains post Bernanke erased
The AUD/USD, which was given a strong boost on the USD long squeeze following Bernanke's dovish message, has eliminated all the flash gains almost at the same impulsive pace as it went up, an indication that market participants remain determinedly with a short view on the pair, as the pricing for a cut by the RBA in August stays above the 50% following yesterday's weak Aus jobs.
AUD/USD in a volatile range
AUD/USD chart shows volatile trading conditions, all within the context of a range frame between 0.9040/50 and 0.9300/50. Trading inside this range poses significant challenges to hint next direction as wild swings remains the norm. On the downside, buyers have been emerging at 0.91 or thereabouts, while on the upside, 0.92 has been well capped late in the US session. Sean Lee, Founder at FXWW, notes "The technical picture still seems fairly constructive with a ‘rounding bottom’ forming on the short-term charts."