Dollar was massively sold off last week with the dollar index dropping nearly 1% to close at 79.22, first weekly close below 80 since last September. Commodity currencies were the major gainers with NZD/USD climbing 3.5% to 0.6397, AUD/USD rising 2.35% to 0.8013 while USD/CAD dropped -2.75% to 1.0892. EUR/USD…

Aussie continued to move higher due to the dollar’s weakness elsewhere and penetrated 0.7893 (high of 27 May 2009), suggesting the wave 3 rally from 0.6248 (2 Feb 2009) remains in progress and recent series of higher highs and higher lows (uptrend) would bring further headways towards 0.8100 level and…

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Trade Idea: AUD/USD - Buy at 0.7960

Dollar was massively sold off last week with the dollar index dropping nearly 1% to close at 79.22, first weekly close below 80 since last September. Commodity currencies were the major gainers with NZD/USD climbing 3.5% to 0.6397, AUD/USD rising 2.35% to 0.8013 while USD/CAD dropped -2.75% to 1.0892. EUR/USD…