Aussie Dollar Failing and Breaking Through Key Support

Share This Article
April 17, 2013 11:54am NYSE:FXA

australian-flag: The Aussie Dollar (NYSEARCA:FXA) failing at the 20 day moving average and breaking through the 50 day moving average support, now off almost 50bps after Monday’s caning.

With copper LME price breakdown and fresh reports out of China that the country has cut its 2012 average copper price target due to reduced need for restocking, it’s no surprise that commodity currencies are struggling.

Why are AUD and CAD even putting up a fight here?

Policy will have to become more dovish in Australia which was the only saving grace for the Aussie dollar.

Canada has no choice with a growing consumer debt problem and the obvious resource linkage of its economy.

This article is brought to you courtesy of Tim Seymour from Emerging Money.

Read Next

Get Free Updates

Join over 50,000 investors who get the latest news from!

Most Popular

From Our Partners

Explore More from

Free Daily Newsletter

Get daily ETF insights from our market experts. Never miss another important market development again! respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories