Forex: AUD/USD slumps to 1.0234 low
Forex pairs in this Article »
AUD/USD
Following NFP's and US Unemployment, AUDUSD bounced, seeing price move 25 pips higher to 1.0272.
However, despite the initial surge in risk sentiment, spot has started to sell off into the European close with price close to 40 pips lower from the high. A meeting between Italian and Spanish PM's Monti and Rajoy is scheduled to start shortly at 16:00 GMT and represents the final key risk event of this weeks calendar.
Forex Ticket analysts see spot are bearish on the pair this afternoon and have targets of 1.0205 and 1.0175 ahead. Stocks are up on the day as we head towards the European close whilst commodities remain largely in the red.
However, despite the initial surge in risk sentiment, spot has started to sell off into the European close with price close to 40 pips lower from the high. A meeting between Italian and Spanish PM's Monti and Rajoy is scheduled to start shortly at 16:00 GMT and represents the final key risk event of this weeks calendar.
Forex Ticket analysts see spot are bearish on the pair this afternoon and have targets of 1.0205 and 1.0175 ahead. Stocks are up on the day as we head towards the European close whilst commodities remain largely in the red.
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