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why AUD drop since Dec 10th?

c3po
Dec 12 2013 at 18:10
51 posts
AUDdropped like a rock since Dec 10

On the 11th AUD had a favorable Employment change but that barely slowed down the decline. Can anyone tell me what happened?

thank you

ArdiFX
forex_trader_[136673]
Dec 12 2013 at 21:56
852 posts
Today Australia Governor Glenn Steven stated that AUDUSD near $0.8500 is needed for the Australian economy. The market fear that RBA will intervene in the market and it has plenty of tools. There is enough room to cut interest rates, currently at 2.50%.


This is only market news. Please don't take it as investment advice.

c3po
Dec 13 2013 at 11:13
51 posts
Thanks, but that doesnt explain why the drop Dec 10 - Dec 11. (today is Dec 12 and AUD dropped fro the past 2 days - im wondering why that happened)

c3po
Dec 13 2013 at 11:13
51 posts
are you saying the previous 2 day drop happen because of what was announced today?

ma2000
Dec 22 2013 at 07:06
22 posts
@ahuruglica @c3po 10 days ago big firm took a year-end call option for AUD at 0.86. Now looks it mite happen..

CrazyTraderfx (CrazyTrader)
Dec 22 2013 at 14:10
1718 posts
Why you would expect AUD to bounce for a news that you interprete as positive?

Why would you expect AUD to bounce before major support @ 0.8900 area?

Why would you expect AUD to break bearish trend line from 21 October on 10 december as AUD is bearish outlook since 10 may?

Why don't you think the little bounce from 5 dec to 10 was an market's anticipation of this good data?

If you can answer theses questions while you keep in mind the main trend... you will think differently and you will be looking for rallies to enter short.

Hope this help.

chanakam
Dec 23 2013 at 07:21
21 posts
Just look in 1 Day Time Frame & You will see the dropping did not start on 10th Dec 😄
It was dropping for a long period

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