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Australian Dollar Collapses Below .7500

By Sam Shenker
16 December 2005 11:25 GMT
However given the sharpness of the latest correction short-term traders should expect a pullback toward the .7516, a level established by the 50.0 Fib of the .7798-.7267 USD rally. Indicators are favoring the Aussie longs with both momentum indicator and positive MACD above the zero line, while overbought Stochastic gives the US dollar traders a chance to further retrace the Aussie rally.

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16 December 2005 11:25 GMT