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why AUD drop since Dec 10th?
Dec 12, 2013 at 18:10
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6 Replies
forex_trader_136673
Member Since Jun 28, 2013
842 posts
Dec 12, 2013 at 21:56
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.
This is only market news. Please don't take it as investment advice.
Member Since Nov 21, 2011
1601 posts
Dec 22, 2013 at 14:10
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.
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.
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