USD Trading Outlook (27-11-2013)
The consolidation phase for the AUD lasted all of 4 sessions and the failure to break back above .9200 led to another strong sell-off in AUD/USD. The impulsive nature of these moves lower suggests that there is more downside to come for the AUD and the fact that the selling is coming against all of the other majors should be telling the AUD bulls to take a long break. There is nothing much on this morning’s economic calendar apart from the NZ trade data.
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