Forex market news: AUD/USD slides after CPI data

By mitra77al - Posted on October 26th, 2011

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The Australian dollar didn't have much chance to go up in value on the forex market against the US dollar after the CPI data came out a few hours earlier and it slid down in a haste, even though it had spent much of the Australian forex morning session trading around the level of 1.0420. All in all, the AUD/USD forex pair tanked to 1.0364 and then consolidated for the rest of the forex trading session in a 25-pip range, before breaking down again.

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Submitted by seoexpert97 on 9 November 2011 - 10:22am.

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What is forex? The forex market is where one currency is traded for another. It is the largest market in the world, not only in Dubai. You could try following some bloggers' forex trading plan (at your own peril), or set up your own forex blog to better learn forex. That way, you can at least take note of the reasons for taking specific trades, what forex chart patterns they are looking at, and get some valuable forex tips from them. Don't forget about calculating the support and resistance area for the forex pairs you're following by using a Fibonacci calculator. This will help you immensely in your trading as most speculators will be looking at the same price levels, and you could possibly predict the moves of currency pairs.

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