OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: AUD/USD further weakness remains in store for the days to come - Commerzbank

FXstreet.com (Barcelona) - The AUD/USD reached 1.0414 (61.8% Fibonacci retracement of this year’s decline), being rejected and falling to 1.0333 earlier today. “Further weakness remains in store for the days to come with the one month support line at 1.0292 being eyed this week”, wrote analyst Karen Jones. “Our longer term outlook remains negative with the 2011-2013 support line at 0.9817 remaining in the picture and then the 0.9404 2009 peak”, she added.

In regard to the longer term, the chart pattern is increasingly viewed as a longer term top: “Should the 61.8% Fibonacci retracement of this year’s decline at 1.0414 unexpectedly be exceeded, the early February and end of January highs at 1.0457/75 could also be reached but, together with the 78.6% Fibonacci retracement at 1.0495 should then cap, however”, Jones concluded.

Forex Flash: Cyprus to dominate after shock ‘deposit tax’ announcement - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ comments that the immediate focus at the outset of the London trading session is whether or not the deal will be passed in parliament in Cyprus.
Read more Previous

Forex Flash: Abe announces formal Japanese intention to enter TPP talks - OCBC Bank

OCBC Bank Treasury Analysts note that Japanese Prime Minister Abe has formally announced Japan’s intention to join TPP talks, indicating that the TPP will spur more growth in Japan.
Read more Next
Start livechat