Wednesday, 7 March 2012

Action Forex

Action Forex

Greek debt swap approaches amid renewed market optimism

Posted: 07 Mar 2012 07:52 AM PST

European markets were trading in the positive territory on Wednesday, as doubts about the Greek debt swap, which is supposed to be finalized by March 8, are slowly dispelling. European Commissioner for Economic and Financial Affairs Olli Rehn expressed his faith today that a sufficient amount of Greece’s creditors would take part in the debt swap. The news caused Spanish and Italian bond yields to decline.

AUDUSD breaks below 1.0596 key support

Posted: 06 Mar 2012 05:44 PM PST

AUDUSD breaks below 1.0596 key support and reaches as low as 1.0507, suggesting that the uptrend form 0.9861 (Dec 15, 2011 low) has completed at 1.0855 already. Further decline is expected after a minor consolidation, and next target would be at 1.0450. Resistance is at 1.0600, as long as this level holds, the downtrend from 1.0855 will continue. Posts Related to AUDUSD breaks below 1.0596 key supportAUDUSD is
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