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5 Jul 2013
AUD/USD dumps through 0.9100
FXstreet.com (London) - AUD/USD has dumped from 0.9181 to meet the figure 0.9100 after the release of US NFP’s.
AUD/USD had previously been edging its way higher while GBP and EUR were being traded aggressively, so the crosses were dramatically lower vrs both the AUD and EUR, taking AUD/USD higher. The dollar is now back in focus and of course the AUD is taking the brunt of a broad based dollar rally. The NFP’s surprised to the upside and printed much better than what had been forecasted.
The numbers were 195k vrs 165k expected, meeting previous and showing the US is resilient. More over, keeping the expectation of tapering very much alive. Karen Jones’s, head of analysis, and her team at Commerzbank said the market will remain directly offered below 0.9388/0.9404, the 2011 low and highs from 2009 and 2010. She sighted a close below 0.9147 sees the next target of 0.8550 engage en route to 0.8068, the 2010 low. “We suspect that a break below 0.9000 psychological support will act as the catalyst for a break lower .”
AUD/USD had previously been edging its way higher while GBP and EUR were being traded aggressively, so the crosses were dramatically lower vrs both the AUD and EUR, taking AUD/USD higher. The dollar is now back in focus and of course the AUD is taking the brunt of a broad based dollar rally. The NFP’s surprised to the upside and printed much better than what had been forecasted.
The numbers were 195k vrs 165k expected, meeting previous and showing the US is resilient. More over, keeping the expectation of tapering very much alive. Karen Jones’s, head of analysis, and her team at Commerzbank said the market will remain directly offered below 0.9388/0.9404, the 2011 low and highs from 2009 and 2010. She sighted a close below 0.9147 sees the next target of 0.8550 engage en route to 0.8068, the 2010 low. “We suspect that a break below 0.9000 psychological support will act as the catalyst for a break lower .”