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29 May 2013
AUD/USD spiked higher 0.9672
FXstreet.com (London) - After breaking the 2012 lows, the AUD/USD has been as high as 96.72 today. It is currently re-settled and back to 0.9629.
With a surprise in US consumer confidence yesterday and subsequent higher yields in US treasuries, the Aussie broke 0.9581 catching the market by surprise and ahead of Capex which is out tonight. Stop entries may have been what have been triggered here on a nasty stop running spree, remaining within the descending channel, settling slightly below the pivot at 0.9637 with offers above 0.9700 and bears targeting 0.9388 below the 2011 lows.
With a surprise in US consumer confidence yesterday and subsequent higher yields in US treasuries, the Aussie broke 0.9581 catching the market by surprise and ahead of Capex which is out tonight. Stop entries may have been what have been triggered here on a nasty stop running spree, remaining within the descending channel, settling slightly below the pivot at 0.9637 with offers above 0.9700 and bears targeting 0.9388 below the 2011 lows.