Ikon forex Forex price of AUD/USD went below 1.000
Affected by the appreciation action in China, the forex price of AUD/USD slumped to below 1.000 in the market.
Early in the Asia forex market on Monday (December 27), the forex price of AUD/USD slightly opened low and then it went down sharply, the lowest point it had reached was at 1.9984.
Last Saturday (December 25) China claimed to take appreciation action by increase the interest rate by 25 basis points, affected by this the forex price of AUD/USD fell down to above the fair price level.
Some forex analyst pointed out the key support point for the forex price of AUD/USD at bottom would be at 0.9980 level, once it broke that level this forex price would be expected to went down to 0.9900. However, due to the continuous affection of the holidays at the end of the forex market, the forex price of AUD/USD was expected to slump sharply.
The forex price of AUD/USD was at 0.9986/90 at 08:27 Beijing time.
Edited by Laura in Ikon Group
Affected by the appreciation action in China, the forex price of AUD/USD slumped to below 1.000 in the market.
Early in the Asia forex market on Monday (December 27), the forex price of AUD/USD slightly opened low and then it went down sharply, the lowest point it had reached was at 1.9984.
Last Saturday (December 25) China claimed to take appreciation action by increase the interest rate by 25 basis points, affected by this the forex price of AUD/USD fell down to above the fair price level.
Some forex analyst pointed out the key support point for the forex price of AUD/USD at bottom would be at 0.9980 level, once it broke that level this forex price would be expected to went down to 0.9900. However, due to the continuous affection of the holidays at the end of the forex market, the forex price of AUD/USD was expected to slump sharply.
The forex price of AUD/USD was at 0.9986/90 at 08:27 Beijing time.
Edited by Laura in Ikon Group