Octa trading broker
Open trading account

Forex Flash: EUR/AUD strength hinges on European stability – Westpac

According to Sean Callow, an FX Strategist at Westpac, “The pair left its major EUR/AUD moving averages far
behind last month, however the
1.3100/1.3200 area should at least generate some congestion though most resistance levels don’t seem likely to prove especially strong if European political concerns subside, encouraging a resumption of EUR outperformance.”

Ultimately, “A solid multi-week resistance should emerge just ahead of the 1.3300 level, the 76.4 % retracement of the November 2011 – August 2012 decline.” he adds.
The EUR/AUD has spent a solid 13% of its trading days since the 1983 float below 1.3300. However, many of these were in 1983-1985 (using AUD/DEM). With the Eurozone likely to remain in recession for most – perhaps all – of 2013 in contrast to Australian GDP growth of 2.7%, the pair will remain historically weak.

Forex Flash: Position for a USD/JPY pullback via options – TD Securities

The Yen is running very weak today, being the worst performer among the majors on headlines regarding the stepping down of BoJ Governor Shirakawa (the same time as his Deputy Governors’ terms expire, but a little over two weeks ahead of the end of his term) and reasons behind such move.
Read more Previous

Forex Flash: Calls for resignation amplified in media – BBH

Brown Brothers Harriman analysts see that concerns over Spanish politics have served as a good excuse for a bout of profit taking across markets.
Read more Next