Forex Trading News: AUDUSD Hits 7-Month Low
Posted by Mr. Danish FX on Tue, 08/26/2008 - 12:26am in
The USD was able to gain momentum today as traders were apparently selling currencies of further troubled economies. The EURUSD creeped towards 6-month lows as the AUDUSD hit a 7-month low. The AUDUSD has found some nice support here around the 0.0% Fibonacci level below, which was a low on 8/13, as the pair has been unable to really break and run through.
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