News

Aussie Dollar approaches crossroads

07/12/2017

While all eyes remain focused on the runaway train of the Bitcoin market (yet another new high of $14,600 overnight and over 33% in less than a week), the Aussie dollar slipped lower and is approaching very long-term support levels around 0.7460. Expect this to be tested, and probably more than once. If it sails through there will be little reason to buy for the next 300 points lower. The fate of the Aussie rests in some part on the strength of the US dollar, and if the Fed does raise rates as many expect the beleaguered AUD will find plenty of sell orders will prevent any meaningful rally for now.

Share this news

Related posts

Economic 2019-07-31_FOMC.png

Countdown to FOMC on 31st of July

31/07/2019

Market expects 0.25% rate cut on 31st of July 2019

Read more
Calendar Calendar.jpg (1)

The week ahead 15.07.2019

15/07/2019

Upcoming releases next week

Read more
Stock Market US stock-exchange.jpg

Stock market rally

10/07/2019

Stock market rally after Powell transcript

Read more
Forex News yen.jpg

Dollar Yen breaks lower

24/05/2019

Dollar Yen breaks lower

Read more