AUD USD trying to boost in FOREX trading market
12/27/2016 9:28:15 AM
As of FOREX trading market, AUD/USD was near 0.7165 region, but now has succeeded to recover its lost ground and is now trying a move back towards 0.7210 handle.
Currently trading around 0.7195 area, testing session top, bears appeared to lock-in some profits following the pair's recent sharp slip to nearly 7 month low among silent trading on the back of a holiday in many countries, including Australia.
A follow through recovery momentum above 0.7210 handle has the potential to boost the pair towards 0.7247 horizontal persistence, on the way 0.7267 strong hurdle. On the downside, decline below session low support near 0.7165 area now appears to drag the pair towards 0.7147 area, which if broken opens room for persistence of the pair's near-term downward trajectory.
FOREX Fundamental Analysis
Written by FxErvin
