A AUDUSD 1.0000 Test Takes More than Prolific Bear Trend on AUDNZD
The RBA's rate cut triggered a sharp sell off in the Aussie dollar across the board. Most traders were watching the AUDUSD's drop below 1.0325 or AUDJPY's approach to the 80 neckline. These risk sensitive pairs have certainly responded, but follow through is far more dependent on cooperation from broader investor sentiment - which has proven quite stubborn. Fundamentally speaking, it would be easier to secure a bear trend on pairs like AUDNZD and AUDCAD. We take a closer look at the Australian dollar crosses as well as the pent up opportunity in risk trends in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.