Back
31 Mar 2014
AUD/USD from session high to low in blink of an eye
FXStreet (Bali) - Tokyo players were quick to sell the AUD/JPY at the open of Japanese markets, taking the pair from 95.25 to 94.95.
The sell-off in the first minutes of Tokyo caught AUD/USD longs by surprise, sending the rate down over 30 pips from 0.9256 session high down to 0.9232 session low. Market sources report that model fund selling and Tokyo names were to blame for the latest sharp decline.
Should further selling persist in the AUD/USD market, next support below 0.9235/40 is found at 0.9215/20 ahead of 0.9190/0.92, while on the upside, sellers are well camped circa 0.9260/70.
The sell-off in the first minutes of Tokyo caught AUD/USD longs by surprise, sending the rate down over 30 pips from 0.9256 session high down to 0.9232 session low. Market sources report that model fund selling and Tokyo names were to blame for the latest sharp decline.
Should further selling persist in the AUD/USD market, next support below 0.9235/40 is found at 0.9215/20 ahead of 0.9190/0.92, while on the upside, sellers are well camped circa 0.9260/70.