Monday, February 11, 2013

JPMorgan Chase: AUD/USD will find support at $1.0225

JPMorgan Chase: AUD/USD will find support at $1.0225

J.P. Morgan ChaseAUD/USD kept declining. Today the pair’s testing 3-month lows below $1.0250. If this level is breached, the pair will fall to $1.0150 (our target).

China is a regular buyer of Aussie, but as Chinese markets are closed for the Lunar New Year holiday, AUD is vulnerable for the sell-off. In addition, the 5.1 earthquake in North Korea worsened the market’s sentiment. Read more