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AUD/USD dropping after ABC upside correction plays out on 10-minute chart

FXstreet.com (Barcelona) – The AUD/USD just completed a short-term upside correction at 0.8982 and is headed lower – perhaps for a re-test of the 0.8938 support levels earmarked by technicians.

Better US data couldn’t hold the AUD/USD down for more than 90 minutes Tuesday

The S&P Case Schiller Home Price Index, Consumer Confidence numbers and the Richmond Fed Manufacturing Index all exceeded consensus estimates – which should have been Dollar-bullish (AUD/USD-bearish). However, the Dollar quickly caved and the AUD/USD rallied into the end of the US session. Since just before the US close, however, the AUD/USD has been …read more