Anyone else short Aussie on that late afternoon spike just above .7950?
AUD/USD – Consolidates Above Support at 0.79
The last week has seen the Australian dollar fall very sharply and break lower from the trading range that had been established roughly between 0.8050 and 0.8200. This has resulted in a new multi-year low near 0.7850 in the last couple of days. Since that time, it has been able to consolidate a little and find some support around 0.7900 which has stopped the rot. A couple of weeks ago it made numerous attempts at the resistance level at 0.82 only to be sent back often before finally finishing that week moving through this key level. In doing so it was able to reach a one month high near 0.83 before being sold back ... (full story)