Dollar Versus Euro and Aussie August 24th

FX Strategy Video > Currency Pairs Analysis

EUR/USD had another bullish session on Thursday as the "risk on" trade continued for the Euro. However, we are looking at a rather resistive area all the way to the 1.27 level, and as a result we could see a bit of a pullback at this point.

The AUD/USD pair fell hard on Thursday, stopping at the trend line that has been so supportive over the last several weeks. The area that we are at right now is a vital one, and the next 24 hours should be rather important. As long as the trend line holds, we have to avoid shorts. However, if the trend line gives way - we should see 1.03 before it is all said and done.

Published on 23rd of August 2012
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