Forex Analysis | Online forex | |
This weblog brings you strategies for online trading using forex software.
| |
|
| | February 07, 2012 | | Currency trading with the Australian dollar | The Aussie has found a support level in forex trading against the US dollar today. Aussie is a little bit higher today, thanks to the latest news out of Australian. The RBA has decided to keep its interest rate at 4.25% -- even though the forex market had already priced in a cut.
Recent economic data is supporting the Australian dollar, and that is helping matters Down Under. However, Aussie's gains have been limited by the fact that there is a great deal of uncertainty over Greece right now.
Forex traders are waiting for news that Greece is prepared to accept austerity measures in order to receive a bailout. As long as Greece accepts these measures, then it should be possible for risk appetite to return. However, there is just enough doubt that risk currencies are unable to rally. For now, most currency pairs are rangebound. | Topic Tags: Aussie, currency trading, forex traders, forex trading, Greece, RBA | |
|
|
