OctaFX | OctaFX Forex Broker
Open trading account

Forex: AUD/USD bounces off 0.9830

FXstreet.com (Barcelona) - The Aussie dollar found buying interest in session lows around 0.9830 so far, lifting the cross to the current area of 0.9840/45 although trading well into the red figures, despite the better-than-expected annualized GDP in Japan, growing 3.5% vs. estimates at 2.8%.

“Consolidation of recent down moves was the order of the day in overseas markets. This implies there could be some profit taking shortly, after the big down move”, suggested Robert Henderson, Strategist at NAB.

AUD/USD is now retreating 0.58% at 0.9841 facing the next support at 0.9827 (76.4% of 0.9581-1.0625) ahead of 0.9820 (low Jun.8 2012) and finally 0.9738 (low Jun.6).
On the upside, a surpass of 0.9929 (high May 15) would expose 1.0044 (high May 14).

Forex: USD/JPY: Opening higher in European session despite positive JPY GDP

The price action over night had correlated to the positive GDP in Japan where consumer confidence is higher, although sluggish in the corporate sector. Overall, the number printed the best number for over a year.
Read more Previous

Forex Flash: Japan flush with liquidity after BoJ easing – UBS

Ever since the Bank of Japan's round of additional easing on April 4th, investors have wondered where all the fresh liquidity will turn up. Will flows fan out across the globe? Or stay at home perhaps, moving into domestic stocks instead?
Read more Next
Start livechat