Early in the Asia forex market on Thursday (January 3), the forex price of AUD/USD got a rebound to above 0.9950, and in short term it would test the risky level of fair price level.
Mike Hollows, a forex trading dealer in HIFX said in the previous night the good news on the successful selling of Portugal national debt in the auction as well as the better economic data would both support the risk sentiment emotions to get a rebound, and the forex price of AUD/USD started to go up at around 0.9880.
Hollows claimed that so far the focus of the forex market would be at the employment data report which would be released later in the market. He thought the recent sharp slump of AUD/USD and the surging up of metal prices would all be very beneficial for the forex price of AUD.
He predicted that the obstacle point on top would be at 0.9992, and the support point at botton would be at 0.9920.
The forex price of AUD/USD would be at 0.9957/61 at 07:42 Beijing time.
Edited by Laura in Ikon Group.
Mike Hollows, a forex trading dealer in HIFX said in the previous night the good news on the successful selling of Portugal national debt in the auction as well as the better economic data would both support the risk sentiment emotions to get a rebound, and the forex price of AUD/USD started to go up at around 0.9880.
Hollows claimed that so far the focus of the forex market would be at the employment data report which would be released later in the market. He thought the recent sharp slump of AUD/USD and the surging up of metal prices would all be very beneficial for the forex price of AUD.
He predicted that the obstacle point on top would be at 0.9992, and the support point at botton would be at 0.9920.
The forex price of AUD/USD would be at 0.9957/61 at 07:42 Beijing time.
Edited by Laura in Ikon Group.