AUD,NZD/FXWW News

Oil, Copper fall heavily; likely to influence AUD/JPY in particular

Crude oil prices dipped below $50/bbl for the first time in over 5 years and copper prices also fell heavily during NY trade. This sentiment is likely to carry over into the Asian market and pairs like AUD/JPY and CAD/JPY might be vulnerable to some increasing downward pressure.

  1. Copper looks very very bearish to me. Everything that holds good for Crude oil story (the plunge) holds good for Copper as well. Technically, its just waiting to roll off a cliff.

    I really hope I am wrong here.

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