The Australian dollar fell significantly during the session on Wednesday, breaking below the 0.80 level again. This was in response to a potential tax
The Australian dollar fell significantly during the session on Wednesday, breaking below the 0.80 level again. This was in response to a potential tax deal coming out of the United States, that of course lifted the US dollar and sent gold, so this was a bit of a “double whammy” for the Aussie dollar. It now looks as if the market is going to continue to dance around the 0.0 level, and I suggest that perhaps taking a day or 2 away from this currency pair might be the best way to trade it. Even though it looks like it’s falling apart, there is a taunt of support just below.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
