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AUD/USD Fell to 0.8060 in Thin European Trading

Posted by Chris Advincula on May 14, 2015 7:01:00 AM

AUD.5.14 resized 600

Chart: WorldWideMarkets Alpha Trader

The Australian dollar continued to slide in Europe and fell 78 pips to 0.8062 from 0.8140. The aussie came off from the intraday high of 0.8162 in the prior Asian session. 

Macro funds were heavy sellers at the 0.8120 level and pressure also came from the China iron ore futures which closed down 3.2% Thursday. The market is thin today from the bank holidays in Germany, France and Switzerland and the price movement can be exaggerated with less liquidity in the market and typically wide spreads.

Topics: AUDUSD, forex trading, European Session, Fundamental Analysis, aussie

 

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