Forex: AUD/USD corrects eased sentiment
Forex pairs in this Article »
AUD/USD
FXstreet.com (Barcelona) - After the EU's rejection of rumors that the EFSF would have a special fund to buy Spanish bonds, the market priced out the added sentiment, and the weak labor market data didn't trigger a QE3 speculation rally.
The lowered sentiment took out the AUDUSD from its new highs, at 1.0444, but remaining above the 1.0400 psychological level, quoting around 1.04200 area. In a wider perspective, the pair is resuming its upside from mid June 12 low at 1.0100.
"AUDUSD has soared higher to reach the 1.0395 short term resistance line, we would allow for ongoing gains to the 1.0475 April high", wrote Commerzbank analyst Karen Jones, expecting failure there.
The lowered sentiment took out the AUDUSD from its new highs, at 1.0444, but remaining above the 1.0400 psychological level, quoting around 1.04200 area. In a wider perspective, the pair is resuming its upside from mid June 12 low at 1.0100.
"AUDUSD has soared higher to reach the 1.0395 short term resistance line, we would allow for ongoing gains to the 1.0475 April high", wrote Commerzbank analyst Karen Jones, expecting failure there.
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