Previous highs at 1.2550 have now been broken and the obvious target for this pair is the 38.2% retracement at 1.2360. Selling rallies definitely preferred.
Sean, your comment in Fx Street is yesterday´s . It´s delayed by one day, everyday lately.
Do you mean my opening comments Michael? It was okay earlier this am http://www.fxstreet.com/technical/analysis-reports/asia-market-open/2012/10/10/
don’t agree with you. might go but not for this week now. after having lost 300 pips in last 3 days. it is losing 100 pips/day. It recovered 1100 pips in 7 weeks.
It would be pretty boring market if we all agreed all the time 🙂
AUD/USD is showing some strength now. looks like we will have 1.0350 tomorrow.
Yes indeed Nachiket, and if you subscribe to the theory that the market always goes where it can stuff the most people up, we might even see 106 again real soon??
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