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28 Mar 2013
Forex: AUD/USD turns bearish as stocks decline in Asia
FXstreet.com (Córdoba) - The AUD/USD was trading above 1.0450 at the highest level since Wednesday's European session but turned to the downside falling more than 30 pips in a few minutes. Currently trades at 1.0423/27, approaching yesterday's lows that lie at 1.0417; if it breaks lower it would be at the lowest level in a week.
Stocks in Asia are falling sharply on concerns over the European crisis. Also Chinese bank stocks are under pressure following regulation changes on wealth management. The Nikkei 225 is down 1,14%; the Shanghai Composite falls 2.12% and the Hang Seng in Hong Kong loses 1.07%. The decline in stocks weakened commodity currencies.
The EUR/AUD jumped to the upside rising from 1.2220 to 1.2256 printing a fresh daily high while the AUD/JPY declined to 98.08.
Stocks in Asia are falling sharply on concerns over the European crisis. Also Chinese bank stocks are under pressure following regulation changes on wealth management. The Nikkei 225 is down 1,14%; the Shanghai Composite falls 2.12% and the Hang Seng in Hong Kong loses 1.07%. The decline in stocks weakened commodity currencies.
The EUR/AUD jumped to the upside rising from 1.2220 to 1.2256 printing a fresh daily high while the AUD/JPY declined to 98.08.