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AUD/USD, AUD/NZD Flows − AUD under pressure from equity inspired USD rally

Tue, Oct 27 2009, 12:47 GMT
by FXMarketAlerts Team

FXMarketAlerts


Published at 12:43 (GMT) 27 Oct

Fx Market Alerts

Three days of price data shows that AUD has had mixed activity. USD's reaction to the softening equity markets had an all too predictable impact on AUD/USD, sending it lower. But, despite the negative tone, Asian dealers reported Asian sovereign and real money buyers were lurking down below. With month end coming, it is probably the speculative community that is applying the most pressure to prices and they will continue to sell as long as equities fail to perform. AUD is holding its own elsewhere, actually rejecting the sub-1.2200 levels seen in AUD/NZD and creeping up toward 1.2300. Technically, AUD/USD support that may tempt the real money players includes support at 0.9123 and the upside for AUD/NZD that could set off some buy stops is resistance at 1.2310 and then 1.2360. M.B.

Published on  Tue, Oct 27 2009, 12:49 GMT

Published with a minimum of 10 minutes delay.


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