Forex news, rate of Australian dollar. Euro and Australian dollar have suffered serious loss, as investors have recorded profit from the recent risky assets rally after ECB finally introduced banks’ monetary means in euro zone.
After the speech of the President of Federal Reserve System, US dollar does not give any safe signals to buy new bonds.
However, the speech of Ben Bernanke has not changed opinions at the markets. This draws attention to future economic results in the USA, including results in industrial sector. Due to poor results of ISM index, it is possible that FRS may start a new set of concessions.
Following the classical "buy by rumour, sell by news", Euro has dropped almost to the point of 3-month maximum after the situation when measures taken by European Central Bank have resulted in 3-year credits that amount to 530 bln. euro. This sum has almost met the expectations. Common currency was hit again when Bernanke gave his forecast about American economy.
The closest support to euro is provided by point 1.3321, the peak of February 9, and then point 1.3293, which coincides with a 100-day moving average.
As explained by Ilya Pressler, the head of DFWA Department within Masterforex-V Academy, "Australian dollar is in a situation that is very unsuitable for market trade. We see the attempts to update the market down, but at the same time keep targeting at local maximums. I do not see any explicit trading ideas about the pair either at present, or in the nearest future".
