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AUD/USD doldrums weighed down by speculative plays

Pair comes up after touching 0.7712 level Market piled back in AUD/USD shorts last week + long EUR/AUD, GBP/AUD Crashing iron ore prices and its reflection on state of Chinese economy worrying Slashing of excess capacity…

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  • Pair comes up after touching 0.7712 level

  • Market piled back in AUD/USD shorts last week + long EUR/AUD, GBP/AUD

  • Crashing iron ore prices and its reflection on state of Chinese economy worrying

  • Slashing of excess capacity at steel mills not a good sign

 

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Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560