AUDUSD (Aussie) Currency has fallen 250 points in both cases after the breakout (once on & after 11-Nov-2016 and then again on & after 14-Dec-2016).
The AUDUSD currency pair, also known as the Aussie, is one of the most widely traded currency pairs in the world.
The AUDUSD exchange rate represents the value of the Australian dollar (AUD) expressed in terms of the US dollar (USD). This means that if the AUDUSD exchange rate is 0.75, then it takes 0.75 US dollars to buy one Australian dollar.
In November and December of 2016, the AUDUSD currency pair experienced significant price movements. After breaking out from its trading range, the currency fell 250 points in both cases. This event had a significant impact on traders and investors who were trading this currency pair.
The first breakout occurred on November 11, 2016. The currency pair had been trading in a range between 0.76 and 0.78 for several weeks, but it finally broke above the resistance level of 0.78. However, the breakout was short-lived as the currency quickly fell back below the resistance level. In the following days, the AUDUSD exchange rate fell by 250 points, reaching a low of 0.7550 on November 15.
The second breakout occurred on December 14, 2016. The currency pair had been trading in a range between 0.74 and 0.75 for several weeks, but it finally broke below the support level of 0.74. This time, the breakout was more significant as the currency continued to fall below the support level. In the following days, the AUDUSD exchange rate fell by 250 points, reaching a low of 0.7150 on December 23.
The reasons behind the currency’s fall are complex and multifaceted. One possible explanation for the fall is that the US dollar strengthened against the Australian dollar. This could have been due to a number of factors, including a stronger US economy, higher interest rates in the US, and political uncertainty in Australia. Another possible explanation is that there was a shift in market sentiment. Traders may have become more bearish on the Australian dollar, leading them to sell the currency and causing its price to fall.
Regardless of the reasons behind the currency’s fall, it had a significant impact on traders and investors who were trading the AUDUSD currency pair. Those who had gone long on the currency pair, expecting it to rise, would have suffered losses as the currency fell. Conversely, those who had gone short on the currency pair, expecting it to fall, would have profited from the price movement.
In conclusion, the AUDUSD currency pair fell 250 points in both cases after the breakout in November and December of 2016. The reasons behind the currency’s fall are complex and multifaceted, but it had a significant impact on traders and investors who were trading the currency pair. The event serves as a reminder of the importance of understanding market sentiment and being prepared for unexpected price movements when trading currencies.
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