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Forex: AUD/USD prints new 2012 low at 1.0033

By FXstreet.com,  May 09, 2012, 09:14:00 AM EDT

FXstreet.com (Barcelona) - The aussie plunged against the greenback, printing a new 2012 low at 1.0033. The cross is trading 0.85% lower than the opening price. MBA mortgage applications in the US grew by 1.7% while wholesale inventories, which are due at 14:00 GMT, are expected to increase by 0.6% in March (from a previous 0.9% growth). The Minneapolis Federal Reserve President, Narayana Kocherlakota, is expected to give a speech today at 14:00 GMT as well. On the other hand, the EIA crude oil stocks change is forecasted to reach 2.00 million (previous was 2.84 million).

The pair is currently trading at 1.0034, facing resistance at 1.0199, followed by 1.0277 and 1.0333, according to Fxstreet.com pivot points on technical tools. On the downside, there is support at 1.0009 and 0.9931.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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