News

AUD/USD Buy Alert - Cancelled

CMC Markets

In overnight trading the AUD/USD has fallen below the important 1.0050 support level. While fundamental factors such as the flood of US Dollars, higher Australian interest rates, and commodity related demand still support a higher AUD/USD in the medium term, the price action indicates this is less likely to occur in the short term. While I'll be watching this pair closely, for now the "Buy Alert" is cancelled.


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