Saturday, September 27, 2014

Action Insight Weekly Report 9-27-14

ActionForex.com
Action Insight Weekly Report Markets Snapshot

Dollar Rose Broadly as Focus Turns to Economic Data This Week

Dollar extended its broad based rally last week as the dollar index registered the 11th consecutive week of gain, which is the strongest winning streak on record. The index hit as high as 85.68 and and hit the highest level of since 2010. Among the major currencies, commodity currencies were the weakest once as weighed down by risk aversion. Aussie and Kiwi were also talked down by respective central bankers. Elsewhere, European majors were also seen weak against dollar with Sterling being relatively resilient. Yen fluctuated between again as loss on different news and was the second strongest currency.

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Featured Technical Report

AUD/USD Weekly Outlook

AUD/USD's decline continued last week and initial bias remains on the downside this week. Current fall from 0.9504 is expected to extend to retest 0.8659 low. On the upside, above 0.8830 minor resistance will turn bias neutral and bring some consolidations first. But recovery should be limited by 0.8983 support turned resistance and bring another decline.

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Suggested Readings

 

The Week in Review and Outlook

 

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