6 Mar 2015
AUD/USD eyes multi-year lows
FXStreet (Córdoba) - The AUD/USD pair dropped sharply after the release of the US employment data and then made a short lived recovery that was capped by the 0.7740 area; currently trades at fresh lows at 0.7710.
From the highs of the day dropped more than 130 pips and is headed toward the lowest daily close since May 2009.
AUD/USD near 2015 lows
After falling sharply during January amid a rate cut by the Reserve Bank of Australia, the AUD/USD continued to slide on February and bottomed at 0.7620 but quickly rose back above 0.7700.
Several times traded below 0.7700 last month but always managed to climb back above. A consolidation under the mentioned level could open the doors for another bearish run.
From the highs of the day dropped more than 130 pips and is headed toward the lowest daily close since May 2009.
AUD/USD near 2015 lows
After falling sharply during January amid a rate cut by the Reserve Bank of Australia, the AUD/USD continued to slide on February and bottomed at 0.7620 but quickly rose back above 0.7700.
Several times traded below 0.7700 last month but always managed to climb back above. A consolidation under the mentioned level could open the doors for another bearish run.