FxWirePro
Short

Aussie trades at 6 yr low on weaker commodity prices,targets0.73

FX:AUDUSD   Australian Dollar/U.S. Dollar
399 3 7
AUD/USD             is trading weak and declined till 0.73905 as the collapse in Chinese equities drove fears about country’s economy.

Copper             prices has fallen to 2009 lows yesterday on concerns over demand from China, world biggest consumer Commodity currencies especially AUD which is proxy for Chinese investment has fallen to six year low.

Technically intraday bullishness can be seen only above 0.7435. On the downside any break below 0.7390 will drag the pair further down till 0.7367/0.7340/0.7300.

It is good to sell on rallies 0.7398 with SL around 0.7435 for the TP of 0.7345/0.7300
MIchaelTran
a year ago
thank you for your summary and information .
Reply
MIchaelTran
a year ago
valuable information ...
Reply
HarryPotter
a year ago
we hit the stop loss?
Reply
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