Macro buyers surface in the AUD/USD
By: Pete Jackson That's lifted the pair back above the 200 day MA at 1.0321 to 1.0348 session/day's highs , but there are offers now sitting ahead of 1.0350. Sovereign bids have also been touted on approach to 1.0300 The move's also being helped by a sharp downturn in the EUR/AUD cross which again has stalled into the 1.2390/10 area ( highs of early Nov and 200 day MA at 1.2410). AUD's around 1.0343 with the cross down around 1.2322 from earlier highs in Asia of 1.2378
The foreign exchange market (forex, FX, or currency market) is a form of exchange for the global decentralized trading of international currencies. The foreign exchange market, which is usually known as "forex" or "FX," is the largest financial market in the world. Compared to the measly $22.4 billion a day volume of the New York Stock Exchange, the foreign exchange market looks absolutely ginormous with its $5 TRILLION a day trade volume. Forex rocks our socks!
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