Forex News: AUD/USD remains well entrenched in an uptrend, with China's 2Q GDP today next major focus for pair, say strategists at RBC Capital Markets. "An as expected reading would not likely cause much market reaction, but a below expected reading might indicate that demand for commodities is set weaken going forward." Notes AUD/JPY tested support at 102.08, "and should be closely watched." Pair now 102.385. AUD/USD dip from recent highs doesn't signal start of a trend yet. "It is far from clear that the recent pull back is anything other than a short-term correction. AUD/USD now 0.9735.
1 comments:
September 14, 2011 at 6:16 AM
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