AUD/USD manages to rise above 0.8260, thanks to a sell off in the US dollar, that continues retraces its big Non-Farm Payrolls related gains. The Australian dollar already fell to deeper levels, mostly due to a weak business confidence report and the accompanying assessment that the RBA is set to cut more than once in 2015. 0.8223 is the new 4 year low. The monthly business confidence report by National Australia Bank dropped from 5 to only one point for November. This is the lowest since July 2013. They said that profits, sales and employment were all weaker. They still do not see any clear beneficiaries of the recent AUD depreciation. Worse off, the analysts at NAB released a prediction that the Reserve Bank fo Australia is set to cut the rates twice in 2015: specifically in March and August. They added insult to injury by cutting GDP forecasts and lifting employment forecasts. The fall in commodity prices is singled out as a major issue, and this is no surprise. Opinion: AUD Weakness To Be Front Loaded – Barclays. 0.8260 provides some support, and resistance awaits at 0.83, followed by 0.8360. 0.8223 is now the lowest level. Real support awaits only at 0.8066. Here is the chart: 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 Forex News Today: Daily Trading News share Read Next EUR/USD, USD/JPY, GBP/USD Pivot Points, TA – Dec. 9 2014 John Benjamin 7 years AUD/USD manages to rise above 0.8260, thanks to a sell off in the US dollar, that continues retraces its big Non-Farm Payrolls related gains. The Australian dollar already fell to deeper levels, mostly due to a weak business confidence report and the accompanying assessment that the RBA is set to cut more than once in 2015. 0.8223 is the new 4 year low. The monthly business confidence report by National Australia Bank dropped from 5 to only one point for November. This is the lowest since July 2013. They said that profits, sales and employment were all weaker. They still… Top 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.
