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Forex: AUD/USD dropped to lows around 0.9920/25

FXstreet.com (Barcelona) - The Aussie dollar is accelerating its downside on Tuesday, falling to the area of 0.9920/25, levels last seen in June 2012, after the Australian Federal Budget now projects a A$19.4 billion deficit in 2012-2013, higher than October’s surplus of A$1.1 billion. Further data showed that the 2013/14 deficit will now be A$18 billion from A$2.2 billion surplus.

As of writing, the cross is losing 0.19% at 0.9932 facing the next support at 0.9922 (low Jun.14 2012) ahead of 0.9850 (low Jun.12 2012) and finally 0.9827 (76.4% of 0.9581-1.0625).
On the upside, a surpass of 1.0004 (hourly high May 14) would expose 1.0055 (hourly high/lows May 10) and then 1.0096 (high May 10).

Forex: EUR/USD eases to 1.2980/85 on risk off movement

A EUR/USD movement higher was capped at the 1.3020 level Tuesday (slightly near previous session highs of 1.3030) during European trading. With weak economic data out of Germany and the EMU leaving a bitter taste in investor’s mouths, the pair managed to erase near 40 pips in recent moments to now trade at 1.2980/85. At this level however, the cross still remains in positive territory at +0.05% above its opening.
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The Sterling has yet again fallen through the 1.5300 level as traders eye lower lows.
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