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5 Mar 2014
AUD/USD: Flash crash to 0.8834, GDP-led gains erased
FXStreet (Bali) - AUD/USD has given back all the gains and some more from today's positive Australia Q4 GDP release.
There was no headlines justifying the sharp decline in the AUD/USD, which went from 0.8995 down towards 0.8934 in what appear to be an algos-led move.
From a daily perspective, trading the AUD/USD continues to be a tough task, as price remains stuck within the daily ichimoku cloud, so it seems that the zig-zag price action between 0.9080 down to 0.8870/90 will probably cover all eventualities until new catalysts, with Friday's NFP next in line.
There was no headlines justifying the sharp decline in the AUD/USD, which went from 0.8995 down towards 0.8934 in what appear to be an algos-led move.
From a daily perspective, trading the AUD/USD continues to be a tough task, as price remains stuck within the daily ichimoku cloud, so it seems that the zig-zag price action between 0.9080 down to 0.8870/90 will probably cover all eventualities until new catalysts, with Friday's NFP next in line.