The daily currently is consolidating into a trading range between 1.0000 to 0.9675. There are chances of consolidation later mid-term elections American Tuesday and u.s. Federal Reserve announced Wednesday as regards quantitative easing.
Generally, these situations where we have a break in a trend and the price action is laterally, we give the favor of the previous trend, then it would be up. However, it's best to wait for a break of consolidation to occur and then look at the strength of breakout and wait for confirmation Settings action price before committing all positions.
Intra-day update:
The Reserve Bank of Australia raised interest rates by.25% today, as you can see in the chart below the market has rallied strongly out this news. it seems that a break off the top of this range is possible in the near future, this is a historic moment for the Australian dollar, further upside earnings are probably in the near future.
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Comment:
The dollar rose today on the back of production data USA and Chinese forts and as investors wait for the next elections intermediate Tuesday and the announcement of the Fed Wednesday.
In recent weeks dollar's decline has slowed down a bit as traders reduce expectations about aggressive as it could be the fed and betting against the dollar has grown.
The dollar rose to 0.2% against the yen to 80 59 and the euro fell 0.4% for the dollar to 1 3882.
The Dow added 6.13 points or 0.06%, the S & P 500 added 1.12 points or 0,09% and the Nasdaq lost points 2.57 or 0,10%.
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