Monday, 24 June 2013

AUD/USD extends sell-off - Otmane EL RHAZI

The AUD/USD continued to fall in overnight trade, weak China data and concerns over their cash crunch were the cited reasons for the drop. A low of 9163 was posted and we have since recovered trade around 9210.

Stop loss order have been parked above 9235 and more above 9260, sell interest is not until 9300/10.
I think being a Friday and nobody has much appetite for risk, the stops in the AUD are vulnerable
Support is seen down near 9143, 38.2 fibo on the 6009 / 1.1081 rise.

No comments:

Post a Comment