Thursday, February 11, 2010

UBS holds negative outlook for the Australian dollar

As the currency analysts UBS, data on employment in Australia, exceeding analysts' predictions, have supported the Australian currency, and the pair AUD / USD briefly rose above the level of 0.8900. The bank believed that the couple be able to overcome resistance at 0.8928. Nevertheless, while AUD / USD is kept below Fibonacci resistance at 0.9042, strategy has a negative prognosis for the pair with a view to reducing the short-term support at 0.8710 area. Currently, AUD / USD is at 0.8874. Pair continues to consolidate near 0.8880. As the dealers, in the case of growth above the figure, the pair stumble at Ofer in the field of 0.8910. Above this level of orders for sale are concentrated in the area of 0.8950.

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