AUD/USD opens lower in Thursday session after relief rally Wednesday
FXstreet.com (Barcelona) – The AUD/USD rallied hard on news of no unilateral military action by the U.S. against Syria but topped out at 16:00 GMT and has waffled sideways since.
The news of no unilateral US attack forced the safety trade crowd to take profits
For some reason, the AUD/USD has a tendency to become a crowded trade in one direction or the other – with the most recent instance being an over-crowded, over-sold condition in AUD/USD on Syria concerns. When such a condition arises, any hint of a reversal of the news flow usually leads to a …read more