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4 Mar 2013
Forex Flash: AUD down to multi month lows - BBH
Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that the Australian Dollar fell to new multi month lows before the weekend and finished near the lows.
He feels that bounces are seemingly to have become shorter and shallower over the past several weeks. He writes, “The $1.2040-60 area should cap up ticks if the downward momentum is going to be maintained. We look for a test on the $1.01 area in the days ahead.”
He feels that bounces are seemingly to have become shorter and shallower over the past several weeks. He writes, “The $1.2040-60 area should cap up ticks if the downward momentum is going to be maintained. We look for a test on the $1.01 area in the days ahead.”