The overwhelming strength of the US dollar has hit the Australian one. Data released from China and Australia didn’t really help. AUD/USD is currently trading at new lows, which are the lowest levels since 2009. The fresh low is 0.7602. More: AUDUSD: H&S + Elliott Wave Count point lower; The pair already fell to 0.7628, just 2 pips above the 0.7626 low seen in early February. Update: The pair found support only just above the round 0.76 level. Below this line, we have the very round level of 0.75 that was eyed by RBA governor Glenn Stevens in the past. If we look even lower, we see a clear line at 0.7450 – there is a huge gap on the chart dating back to 2008, in a weekend during the big crash. More: RBA to move on rates in April Here is a weekly chart of AUD/USD that shows the full range of developments since 2008. China released inflation data: CPI came out stronger than expected at 1.4% y/y while PPI dropped 4.8%, worse than predicted. Australia’s NAB Business Confidence number is now a flat 0, down from 3 points beforehand. Yet the story is more of the USD: the greenback is storming across the board with EUR/USD falling below 1.08. Also the Canadian dollar is retreating against the dollar. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam AUD/USD Daily OutlooksForex News Today: Daily Trading News share Read Next USD/CAD hits high resistance – 3 reasons Yohay Elam 8 years The overwhelming strength of the US dollar has hit the Australian one. Data released from China and Australia didn't really help. AUD/USD is currently trading at new lows, which are the lowest levels since 2009. The fresh low is 0.7602. More: AUDUSD: H&S + Elliott Wave Count point lower; The pair already fell to 0.7628, just 2 pips above the 0.7626 low seen in early February. Update: The pair found support only just above the round 0.76 level. Below this line, we have the very round level of 0.75 that was eyed by RBA governor Glenn Stevens in the past.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
