OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: AUD/USD falls in European trading

The AUD/USD didn't hold above the 1.0350 line, close to the opening price, and edged lower throughout the European morning. The cross reached as low as 1.0318, for now, and is quoting quite close to that area still.

The market is being pressured mostly on demand for the EUR/AUD and EUR/NZD. Wage prices in Australia rose 0.8% in Q4 (QoQ) as expected, but eased more than predicted in the annual basis, from 3.7% to 3.4%, instead of 3.5%. Westpac Leading Index rose 0.2% (MoM) in December, following a 0.7% rise in November.

“As long as 1.0375 (15/02/2013 high) resistance holds, we favor a decline towards 1.0149", wrote MIG Bank analyst Bijoy Kar. "An hourly support can be found at 1.0275 (18/02/2013 low). Another resistance is at 1.0458 (05/02/2013 high)", he added.

Forex Flash: GBP/AUD could push to 1.5150 on RBA – Westpac

According to the Westpac Analyst Team, “The GBP/AUD has hit the 1.4925-1.5050 target and is probably due for at least stabilization, perhaps a push to 1.5150 so long as the RBA continues to threaten further easing and with sterling perhaps a little oversold. Trade above 1.5400 would probably require the RBA to indicate it will cut rates further than already priced in.”
Read more Previous

Anti-austerity protests in Bulgaria induce the government to resign

National protests against harsh austerity measures pushed the Bulgarian government to resign on Wednesday. PM Boiko Borisov announced the decision this morning, attributing it to his disapproval of the brutal way the protesters were handled last night.
Read more Next
Start livechat