15 Jan 2014
AUD/USD slide continues in Asia
FXstreet.com (Córdoba) - The AUD/USD resumed the declines in Asia after a small short-lived correction and reached a fresh daily low at 0.8934, the lowest price since last Friday. The Aussie remains among the weakest currencies, falling across the board while the US dollar is gaining momentum.
AUD/USD slump turns ugly for buyers
On Monday the rise and consolidation above 0.9000 was seen as an opportunity to buy the pair, looking for a major rally ahead. But the slide from levels above 0.9050 and the acceleration of the decline below 0.9000 gave signals of a strong reversal.
Despite falling a hundred pips on Tuesday, the AUD/USD is dropping further on Wednesday, triggering more stops and approaching the price level it had before the release of the US employment report, that triggered the rally last Friday.
AUD/USD slump turns ugly for buyers
On Monday the rise and consolidation above 0.9000 was seen as an opportunity to buy the pair, looking for a major rally ahead. But the slide from levels above 0.9050 and the acceleration of the decline below 0.9000 gave signals of a strong reversal.
Despite falling a hundred pips on Tuesday, the AUD/USD is dropping further on Wednesday, triggering more stops and approaching the price level it had before the release of the US employment report, that triggered the rally last Friday.