The traditional “risk on” gauge of global risk appetite is making a move this evening, as the Aussie Dollar is trying to push out of its recent consolidation. As you can see above on the daily chart of the Aussie/Japanese Yen cross, though, this area marked firm support back in April. Eventually, that support was broken and led to a long slog down and sideways ever since. Perhaps this is the major breakout right here, right now, though I would expect a bit more time to be put in at these levels before we see a true break.
6 Responses to Aussie Trying to Make a Move
Interesting. Could be the big breakout. Or could be a fakeout breakout. We sure have seen a ton of those lately in various things. So time will tell, as you note.
JPY and CHF are the slugs of the majors.
NOT TO DISCOUNT. !
More to reflect on… .
… Sadly … I am struck with the realization that …
IBC has become (primarily) … “a subscription site” !!!
The “tabbed blogs” have become little more than “loss leaders” … “advertisements” for what your “missing” … INSIDE the “12361″ !
I suppose it was bound to happen, eventually ! Nevertheless, it is somewhat sad to see a once “cutting edge open forum” … become … well … something I hardly recognize anymore !
All in my opinion !
… yes, I know your = you’re !
A game & all that !
… Oh wait, it’s the “12631″ !!!
Man is my face red !
We can give up about 40 S&P handles and keep trend intact.
We may even slightly break the previous low, (around 136) shake and bake out a lot of us folks, and still motor higher.