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27 Aug 2013
AUD/USD sinks further after solid US data
FXstreet.com (Athens) -The AUD/USD got another hurt after encouraging US data.
The AUD/USD sinks heavily amid Syria-linked jitters
The pair was trading at 0.8970 area before the release of the encouraging US data. However, as soon as beating data loomed out, the American dollar strengthened further, i.e. the pair touched 0.8939. All day long, the newswires attributed the flare-up of risk aversion to swelling geopolitical risk after US Secretary of State John Kerry said the Syrian government will be held accountable for its use of chemical weapons. As a consequence, the ‘Aussie’ the absolute risk-barometer, sank as Syria-Linked Jitters Spark Risk Aversion. Rabobank research team at its daily special ‘tapering’ report says that ‘Nevertheless, we would still like to highlight the possibility that the Committee fails to reach a compromise at the September meeting and delay the first taper to October or December’.
Technical outlook on AUD/USD
At the time of writing, the pair is trading at 0.8952 area, down 0.84%. The FXstreet.com Trend Index shows the pair to be slightly bearish. Daily pivot point support can be found at 0.8920, 0.8848, 0.8848 and resistance at 0.9050, 0.9074 and 0.9096, respectively
The AUD/USD sinks heavily amid Syria-linked jitters
The pair was trading at 0.8970 area before the release of the encouraging US data. However, as soon as beating data loomed out, the American dollar strengthened further, i.e. the pair touched 0.8939. All day long, the newswires attributed the flare-up of risk aversion to swelling geopolitical risk after US Secretary of State John Kerry said the Syrian government will be held accountable for its use of chemical weapons. As a consequence, the ‘Aussie’ the absolute risk-barometer, sank as Syria-Linked Jitters Spark Risk Aversion. Rabobank research team at its daily special ‘tapering’ report says that ‘Nevertheless, we would still like to highlight the possibility that the Committee fails to reach a compromise at the September meeting and delay the first taper to October or December’.
Technical outlook on AUD/USD
At the time of writing, the pair is trading at 0.8952 area, down 0.84%. The FXstreet.com Trend Index shows the pair to be slightly bearish. Daily pivot point support can be found at 0.8920, 0.8848, 0.8848 and resistance at 0.9050, 0.9074 and 0.9096, respectively