AUD Trading Outlook
The Australian Dollar (AUD) the Aussie fared badly in the US stock crash with sellers pushing the commodity currency back under 1.0400 after testing 1.0600 the day before. AUD/JPY is under pressure and if problems continue the AUD/USD could fall back to parity at 1.0000.
The Australian Dollar (AUD) the Aussie extended gains to test 1.0600 before easing into the close. Strong commodities and improving risk appetite is providing a supportive underpin for the Aussie which is a favorite of traders who track stock markets.
The Australian Dollar (AUD) lows in the Europeans session were reversed in the US even as stocks fell with the Aussie rallying with the Euro spike post Sarkozy-Merkal. The relief rally is under threat with 1.0500 resistance holding so far and the market will be looking to Eurozone sentiment for the next direction.
The Australian Dollar (AUD) The Aussie surged back to life breaking above 1.0500 in strong US trade with investors demanding the high yielding currency. Commodities where strong and AUD/JPY broke above the Y80 level and is well positioned for more gains. UPDATE RBA Minutes suggest central bank was close to raising rate to fight inflation and was only held back by global market uncertainty.
The Australian Dollar (AUD) The Aussie did well rebounding back to the 1.0350 resistance tracking stocks in the US and finishing the week on a positive footing after a rollercoaster ride. The risk sensitive currency is taking its cues from the Global stock market with the potential for large moves providing good trading opportunities.
Go to Australian Dollar (AUD) Archive



