U.S. dollar gained strongly in the past three trading days. AUD/USD traded to the lowest level this year after unimpressive CPI inflation report. The spike lower was a very short term one though as the pair bounced from the bottom of the three-month channel near 0.7575. Broken support level near 0.7625 should provide some resistance.
al_dcdemo's Blog
EURo sellers still in control
Since the last ECB meeting, at which Draghi hinted that they may ease further in December, Euro fell more than four cents. Hawkish Fed didn't help the pair either. It is currently holding below the bottom (trendline) of the seven-month trading channel and below 50, 100 and 200 DMA. Rallies have been weak, suggesting that the sellers are firmly in control.
Support:
1.0985 - 1.1000 (00's, Low Of Day, Weekly Pivot Point, H1 50 SMA, Late Friday Low)
1.0950 - 1.0965 (Previous Day Low, Daily Support 1…
Support:
1.0985 - 1.1000 (00's, Low Of Day, Weekly Pivot Point, H1 50 SMA, Late Friday Low)
1.0950 - 1.0965 (Previous Day Low, Daily Support 1…