AUD/USD: 0.8755EUR/USD: 1.2800Another volatile session has ended with most currencies not too far removed from where they were yesterday. With only secondary data due it could end up being another choppy one today, albeit possibly without too much direction. Equities, bonds and oil all had another wild ride, with the peripheral EU Club-Med bonds in particular seeing a steep selloff, reawakening concerns of a resumption of the EU debt crisis. Volatile conditions but with little overall direction could largely cover the action today. Have a good weekend.
The Aud dived to a low of 0.8685 as risk sentiment turned sour in the early US session when the stocks took another dive. Sentiment since turned around, and the equity market bounce has allowed the Aud to head back to close the session at 0.8760 having been up to a high of 0.8787.
Given the choppy sideways trade of recent days within the broad 0.8650/0.8850 range, I would imagine that this will continue to contain it into the weekend and given that the 4 hour indicators are flat, for the coming session 0.8700/0.8800 looks likely to cover it. Neutral.
Jim LanglandsFX Charts www.fxchartsdaily.com
