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AUDUSD: Under Pressure On Broad Risk Aversion Flows – Hits Four Month Low

AUDUSD: Under Pressure On Broad Risk Aversion Flows – Hits Four Month Low

AUDUSD: Under Recent Pressure On Broad Risk Aversion Flows – Hits Four Month Low

Mary McCarthy, 28/2/13 

  • The AUDUSD currency pair hit a four month low recently, just under the 1.02 handle.  
  • Recent data shows that Australian business investment declined last quarter with weakness in manufacturing cited, as mining companies pared spending.
  • Key previous support (weekly chart) can be seen around the 1.0147 area, an area coinciding with the 7/10/12 weekly candle low.
  • The Aussie dollar has been under downside pressure recently as risk aversion flows dominate FX market sentiment, and the market focuses on the aftermath of the the Italian parliamentary elections.
  • Current Australian dollar/US dollar daily range is 58 pips – 98% of the ADR (average daily range) over 60 days.

audusd analysis 28th february AUDUSD: Under Pressure On Broad Risk Aversion Flows   Hits Four Month Low

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